Brexit will further weaken a slowdown in UK adspend in the coming years, Zenith has forecasted, with advertising growth set to halve to 5% this year. The Publicis Groupe media agency’s Advertising Expenditure Forecasts says UK adspend will be down on 2015’s 9.2%. Last year Zenith had predicted UK growth of 9.7%.
Although the slowdown began before the vote to leave the European Union in June, Zenith said the Brexit impact is likely to weaken growth “over the next few years”, while global ad expenditure will remain steady at 4.4% this year and in 2017. Zenith forecasts UK adspend to grow at between 3% and 4% in 2018 and 2019.