Advertising spend in the UK grew at its fastest rate since 2010 in the second quarter (Q2) of 2014, with more companies focusing on digital and ecommerce.
New figures released by the Advertising Association (AA)/Warc show that ad spend rose 8.5 per cent year-on-year to £4,515 billion, while internet ad spend surged 17.2 per cent, building on the 14 per cent growth it enjoyed in Q1, mediatel.co.uk reports.
AA predicts 15.1 per cent overall growth of internet ad spend for the whole of 2014, as businesses start investing more into their internet advertising and online payment gateways.
Tim Lefroy, chief executive at the AA, said: “Growth at twice the rate of UK GDP is quite a headline, but the real story is of digital and creative leadership in e-commerce.
“As the Eurozone wobbles, it’s a reminder that our consumer economy is central to the UK’s economic narrative.”
UK advertising spend for the total first half of 2014 increased by 6.3 per cent, ibtimes.co.uk notes. AA also revealed a 17.7 per cent increase in radio advertising spend (excluding branded content), while TV spots recorded a significant rise of 10.7 per cent year-on-year to £1,118 million, with the World Cup providing a welcome boost.