News - IAB UK’s 2020 Digital Adspend report
The Programmatic Advisory brings you weekly news updates to keep you updated with current news in the Programmatic, Advertising and Marketing industries.
Digital ad market proves resilient with 5% growth in 2020
Results from IAB UK’s Digital Adspend report for 2020 shows that the digital advertising market grew by 5% last year to a total of £16.5 billion. Although not all areas of digital ad spend grew over the pandemic, the results from the report signify that, overall, the digital ad market is back in growth.
Other key takeaways from the report, produced alongside PwC, are as follows:
- Search continues to attract the largest share of spend, up 7% year-on-year, accounting for 51% of all digital ad spend
- Social display is the fastest-growing ad format, up by 19%
- For the first time, digital audio and podcasting data are included in the report, elevating the importance of audio over the pandemic. Overall, the digital audio market grew by 17% year-on-year and podcast spend rocketed by 43%
In response to this report, our founder and CEO, Wayne Blodwell, said:
“This report won’t come as a surprise to many as traditional media channels felt the impact of the pandemic greater than digital, and some of that traditional spend would have offset any potential digital decline. It’s great to see podcast advertising featured and growing, but it’s concerning that top 5 companies control so much of Digital. Something to watch out for in the coming years”
Wayne recently spoke to the Head of Partnerships at IAB UK, Rachel Arch, on what the IAB are focusing on this year, to listen, visit www.theadpod.com.