Executive Summary
The UK advertising industry remains a world leader in terms of business won and creativity. This position has been enhanced in recent years, with the strong economic performance of the UK and the increasing integration of accounts in the UK, Europe and internationally.
Between 1993 and 1997, the industry grew in value by 45.8%. 1997 was a particularly strong year, with the industry achieving billings in excess of £12bn. This was due to a number of factors, including the strong economy, the continued high reputation of UK agencies, and the large number of special events, such as the General Election and the Euro ‘96 tournament.
Press advertising continues to be the major source of advertising revenue followed by television (TV), direct marketing and then other forms. Companies producing fast-moving consumer goods (FMCGs) are the major spenders. Naturally, the major FMCG companies, such as Unilever and Procter & Gamble, remain large spenders as do the leading retailers and banks.
The advertising industry has seen a period of consolidation in the last 5 years with cross-ownership, increasing internationalisation and a centralising of accounts by major clients. Groups such as WPP Group and Havas Advertising have emerged as extremely large and diverse communications conglomerates, as well as strongly performing listed companies.
Between 1998 and 2002, the market for advertising in the UK is forecast to grow by 21.3% to £16.5bn. The market is expected to slow down somewhat as the UK business cycle peaks, stricter central government fiscal control is introduced and media buying becomes more competitive.
Seventh Edition 1998
Edited by Louis Barfe
ISBN 1-85765-850-7
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