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December 1, 2016

brexit blues fail to stop uk digital media double digit growth rate of 12%

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"brexit blues fail to stop uk digital media double digit  growth rate of 12%"
United Kingdom Digital Media Ad revenues by Companies

 

It seems Brexit will be unable to stop the rapid growth of digital media in the United Kingdom.Strong demand for digital advertising in UK’s advertising market is  a reminder to the fact that for the moment at least—the industry is shrugging off concerns about the impact of a potential Brexit.This year, 2016 digital ad spending in the UK is expected to grow by 12.0%. That compares to 31.1% growth in net digital ad revenues at Facebook, 13.9% growth at Google and 13.2% growth at Twitter.UK  total digital adspend grew 16.4% in 2015 to over £8.6bn with the average home now owning 8.3 internet devices.All 3 biggest internet giants Facebook, Twitter and Google are set to outpace digital advertising growth in the UK in 2016, according to research from eMarketer. 


Reports indicate Google will net £3.80 billion ($5.81 billion) in ad revenues—accounting for almost 40% of all digital ad spending in the UK). With Facebook a clear leader in digital advertising, it remains to be seen whether there will be a knock on effect after it was found to be overstating the average view times on its video content from between 60 to 80 per cent for the last two years. Nonetheless, it is predicted that it will net digital ad revenues of £1.19 billion due to alterations made to its mobile video formats, new ads in mobile newsfeeds and a new suite of Instagram ad formats. 

Twitter on the other hand received a significant downgrade, set to grow by about 14 per cent generating around £153.5bn, down from previously predicted growth of 31 per cent although rumours of a new buyer can breathe new life into the network.The amount of time UK adults spend consuming digital content continues to rise with consumers spending an extra 25 minutes a day on digital devices in 2016 compared to last year, according to eMarketer’s latest forecast. This means that in 2016, UK adults are expected to spend 9 hours and 47 minutes consuming media compared with 9 hours and 26 minutes last year—a 3.7% rise.In 2016, digital media consumption will pass a milestone, accounting for just over half (50.07%) of total media consumption in the UK for the first time.

When it comes to eCommerce UK, US and German consumers spend the highest amount per person online worldwide, according to research compiled by Internet World Germany.British shoppers spend the most - an average of £1,050 each year, followed closely by the US with £1,001. German consumers take the third spot, with online shoppers spending £915 on average per year.


Mobile use, particularly smartphone use, is behind much of this growth. Almost two-thirds (62.3%) of UK consumers will use smartphones in 2016, and this is reflected in eMarketer’s mobile time spent estimates. Overall mobile media consumption will reach 2 hours and 40 minutes this year, up from 2 hours and 18 minutes in 2015