14th July 2016

Brexit to affect ad market

The ad market will face two years of decline after the UK voted to leave the EU.

Adspend in the UK is expected to fall by 0.2% in 2016, then fall a further 1.3% in 2017.

This is despite the IPA predicting an increase of 3.3% in 2016, and 2.7% in 2017.

In a survey carried out before the EU Referendum vote, 68% of respondents said that they would keep their marketing spend flat in the second quarter of 2016 due to uncertainty about the result.

Since it was announced that Britain would leave the EU, marketers' confidence in their industry's prospects has crashed to the lowest level since 2013.

Director General of the IPA, Paul Bainsfair,said an "inevitable period of flux" was to be expected.

He went on to say: "companies that keep investing during a downturn perform better financially than those that reduce marketing expenditure."

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