Q2: 9.1% actual ad spend growth in news brands outperforms overall advertising sector
According to the latest advertising expenditure report from the Advertising Association and WARC, ad spend in news brands has been revised up for the third consecutive period.
Since the last forecast in July advertising in news brands has seen a positive upward swing of 2.3% across all platforms, while the digital number has been revised up by 1.6 percentage points.
In 2022 news brands are now expected to outperform 2021’s number by 3.4% overall, with digital expected to grow by 8.2%.
Jo Allan, Newsworks CEO, said: “Forecasting in tough global and domestic economic headwinds is incredibly tough, but audiences turn to trusted news brands in uncertain times helping to drive digital growth, as illustrated by the revision upwards from previous forecasts.”
In terms of actual growth, across the first six months of the year ad spend in news brands grew by 12.6%, with impressive growth in digital (16.3%) versus the first half of 2021.
In Q2 news brands performed well, posting another double digit rise in digital of 13.2%, with an increase of 9.1% in ad spend across all platforms – encouragingly, news brands outperformed the overall UK advertising spend for the period.
Allan added: “It is encouraging to see the growth in digital performing across both the first six months of the year and the second quarter, to a point where news brands outperformed the overall market position.”
According to AA/Warc, the UK’s ad market is on course to grow by 9.2% in 2022 as a whole, to a value of £34.9bn.