The UK's advertising market is set to increase to £21.8bn in 2019, up from £20.5bn in 2018, on the back of 6.1% growth this year – down slightly from the 7.8% rate of increase recorded in 2018.
The figures come from GroupM's latest UK advertising report, which spans this year and next.
Britain was buoyed by continued confidence in the sector despite uncertainty, thought it found a marked deceleration trend is now coming into play and looks set to continue into 2020 when growth is expected to fall to around 4.6%.
Growth is being powered by digital advertising which now accounts for 60% of total spend, half of which is attributed to search, where an impressive period of breakneck double-digit expansion shows no sign of slowing with growth of 11% predicted for 2019 alone.
Out-of-home digital formats continue to reflect this digital trend, accounting for half of all out-of-home spend in 2018 with an expected flurry of further growth still to come as automation brings gains, expanding by 3% in both 2019 and 2020.
While the sector is strong in absolute spend it is weak in depth with Google and Facebook hoovering up around three-quarters of this gross figure on a gross basis.
Television, a sector stalwart, continues to hold its own with stable advertising revenues of £4.5bn, equivalent to around 20% of all media investment – in pronounced contrast with newspapers and magazines which now account for under 10% of all media investment, down from the 50% plus level attained as recently as 2004.
Radio meanwhile is projected to grow at a steady 2% next year.
Declining optimism globally has prompted GroupM to downgrade worldwide growth expectations for 2019 to 3.6%.