AA/WARC Expenditure Report Q3 2021
Last year, the UK ad market enjoyed its strongest ever year, according to the latest Expenditure Report from the Advertising Association and WARC. It’s estimated that the market grew by 26.4% to reach £29.7 billion.
Federica Bowman, Global CEO, FirmDecisions shares her comments on the report:
“The recovery of the UK advertising market is very encouraging particularly for channels which were impacted significantly by the pandemic, such as Cinema and Out of Home.
“With this return to substantial growth comes a challenge for advertisers to ensure they have the right agency resourcing to manage this, particularly as Covid has changed consumer habits irrevocably towards the consumption of more digital channels, which will require more investment in people and skills industry-wide.
“In addition to the upskilling required, the last two years has seen substantive movement within agencies as they reduced their staffing levels to manage their costs in 2020, only to start the rehiring process in 2021 as demand for services increased. A key consideration for advertisers should be the importance of good corporate governance to validate that their agency partners have delivered as per their contractual obligations throughout this tumultuous period.”
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