The UK ad market saw steady growth in 2014 largely thanks to digital media’s +15.5% increase over the period, according to Standard Media Index (SMI), which reports on actual spend data from the world’s largest media agencies. After softening in the third quarter of the year as a result of lower post-World Cup advertising budgets, a strong fourth quarter propelled the market to round out the year up +5.9%.
SMI’s report covers television, social media, print media, radio and cinema.
Television fared well in the UK showing growth in all four quarters of 2014. The TV sector’s winner was ITV, which holds 43% of the ad spend share, and grew +9.9% YoY in 2014.
Digital was definitely the darling of 2014. According to SMI:
After showing single-digit growth figures in Q3 for the first time in years, digital ended 2014 with a +16.1% upswing in Q4. It increased +15.5% YoY in 2014.
Within digital, investment in social media advertising grew by +38.4% in 2014, video increased by +34.8% and mobile gained +22%. Direct display advertising declined slightly by-2.3% due to an increasing portion of display advertising being bought programmatically. Programmatic grew +65.4% this year and +67.1% in the final quarter.