With Christmas now in full swing (at least as far as advertisers are concerned) the industry has been able to take stock of its relative strength this year as opposed to previous years – and the results provide early festive cheer to broadcasters with spending projected to hit a record £6bn.
The milestone figure has been calculated by The Advertising Association which attributes the seasonal boom to the dominance of budget-busting event campaigns and cutthroat competition between retailers which has driven spending up by around 40% over the past seven years.
Publication of the figures dovetails with the release of Christmas campaigns from Christmas big hitters such as John Lewis, Debenhams and M&S, with the former leading the pack with its depiction of Moz, an imaginary monster residing underneath a young boy’s bed.
Karen Fraser, director of the think-tank Credos, which conducted the forecast in partnership with the Advertising Association, said: “It's just upped the ante… so many brands and retailers are looking to compete in that market but it means that everyone needs to work harder to get people's attention."
These efforts haven’t been in vain with a survey of 1,000 Britons conducted on behalf of the Advertising Association calculating that half were not ashamed to admit they’d shed a tear after witnessing these adverts, while one in six went out of their way to ensure they were first to see an advert’s premiere.
Public fervour has seen record anticipation levels, with more Brits excited by the latest commercials than blockbuster movies.