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| Author | Zoe Aresti |
In a piece written for Campaign Magazine, Zenith's UK Chief Executive, Mark Howley, looks at how media sector adspend compares across the last 30 years.
Media agency Zenith is celebrating the 30th continuous year of its Advertising Expenditure forecasts and has taken a look at what has changed over the last three decades.
The headline numbers for the UK tell a strong story for cinema, with the growth in advertising far outstripping the resurgence of cinema-going (admissions jump from 78 million to 168 million over this period, while advertising revenues have grown 1,183%).
Radio and outdoor are the mediums with the most consistency – both in steady growth, slightly out-performing total market growth. The decline in newspaper and magazine advertising makes for stark reading – in 1987 62% of all advertising spend was invested in print, this has now just slipped under 10%.
Mark Howley concludes: “As we look ahead to the next 30 years, it really is hard to say what we’ll be talking about as we celebrate the Zenith adspend forecasts’ 60th anniversary. As an industry we have challenges, but we’re also in a good place – the latest report confirmed an expected global growth of 4% this year. One thing is for sure though, the rollercoaster of change will continue, and I for one believe this is fundamentally what makes it an interesting sector to work in.”
Read the fill piece here.