UK advertising growth sees radio revenues reach the highest level for 8 years

UK advertising expenditure grew at its fastest rate since 2010 last year, increasing by 7.5% to £20.1 billion, according to the UK’s definitive advertising statistics, the Advertising Association (AA)/Warc Expenditure Report.
Radio adspend, including branded content, was one of the sectors that showed a particularly impressive increase, rising by 2.9% in 2015, amounting to a total of £592 million. This is the highest level since 2007 and means that radio has demonstrated sustained growth in five out of the last six years.

The AA/Warc forecasts that radio adspend will register an annual rise of 4.3% in 2016. This positive prediction is part of a healthy pattern over all: the strong growth in total UK adspend is expected to continue with a rise of 5.5% forecast in both 2016 and 2017.

The data show that as a share of GDP, UK adspend rose to 1.08% in 2015, higher than any other G7 nation. For every man, woman and child in the UK, £308.56 was spent on advertising last year.

Siobhan Kenny, CEO of Radiocentre says: “It comes as no shock that British cinema’s adspend grew 2015, driven by such high grossing films as Star Wars: The Force Awakens and SPECTRE. The Internet’s increased adspend was equally unsurprising, as we are living in an increasingly digital world. It is brilliant news that radio adspend is part of this thriving combination of old and new media success stories. Radio is the original broadcast medium and its timeless appeal goes from strength to strength.”

Find full press release here.