Gaining traction: The boom in popularity of online marketing is set to boost the industry in 2022-23
Online advertising is booming compared with traditional forms of advertising, like TV and print, boosting demand for digital advertising agencies. A surge in internet usage encourages businesses to use agencies to enhance their online presence. Mobile and video advertising demand is swelling rapidly, accounting for a rising share of industry revenue. Many companies are splashing the cash on digital channels instead of traditional ones for advertising, particularly on social media. However, rising competition from external companies and the growing trend of businesses dealing directly with internet giants have restricted growth. Industry revenue is expected to balloon at a compound annual rate of 7.7% over the five years through 2023-24 to £17.9 billion, including a 3.7% rise in 2023-24.
Digital advertising agencies create advertising campaigns and place advertisements across digital media outlets. Through in-house capabilities or subcontracting, agencies produce advertising material, offer advice and creative services, and provide media buying services.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
Table of Contents
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- WPP plc
Methodology
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