For the first time in history, digital advertising will account for half of all advertising budget in the UK as money dedicated to marketing content intended for the Internet and smartphones hits all-time high.
According to Strategy Analytics, it is expected that nearly £8 billion will be spent on digital advertising in the UK this year, an increase of 9.5%, which dwarfs the 1.6% growth for traditional advertising.
Overall, ad spend in the UK is projected to grow to £15.8 billion (5.4%) almost two-thirds faster than growth experienced in the US and rest of western Europe. This is driven by a 4.8% increase in cinema advertising and 3% jump in television ads.
“Digital crossing the 50pc share threshold is a seminal moment in the history of the ad industry, particularly factoring in its dominance in the UK compared to globally,” said Michael Goodman, who co-authored the Strategy Analytics report.
“Digital accounts for a third of ad spend in western Europe, 30pc globally and just over a quarter in the US – where TV still rules the roost.”
Although print advertising will be the only sector to see a decline this year, its 0.2pc predicted fall for 2015 marks a significant slowdown compared to its 1.7pc drop last year.
For all other formats, growth rates in 2015 are lower than in 2014, the report said.