英国2024年广告、营销与数据展望报告

UK Outlook for Advertising, Marketing & Data: 2024 - A Year of Change and Growth

Overview

Winterberry Group, a specialized management consultancy with over two decades of experience in advertising, marketing, data, technology, and commerce, provides insights into the UK advertising and marketing landscape for 2024.

Looking Back at 2023

• Uncertain Macro Environment: Despite avoiding a recession, the macro-political and economic environment stifled growth. Key factors included inflation, flat stock markets, and labor shortages.
• Marketing Spend: UK advertising and marketing spend grew faster than the economy, outperforming the benchmark of 2X GDP growth. Total marketing spend increased by 7.5% in 2023 compared to 4.1% GDP growth.
• Digital vs. Traditional: Digital marketing continued to grow, while traditional marketing declined below 2022 levels. Digital marketing grew by 19.7% YoY, while offline marketing declined by 8.9%.
• Data Services: There was significant growth in data services, driven by increasing complexity and integration with AI and CTV.

Key Data Points

• Marketing Spend Growth:

  • Total Marketing Spend: Increased by 7.5% in 2023.
  • GDP Growth: Increased by 4.1% in 2023.
  • Forecast: Projected to grow by 5-11.0% in 2024.

• Marketing Spend Breakdown:

  • Online Marketing Spend: £32.4 billion (2023), growing by 19.7% from 2020 to 2023.
  • Offline Marketing Spend: £11.7 billion (2023), declining by 8.9% from 2020 to 2023.
  • Digital Subcategories:
    • Display: £4.0 billion (2023).
    • Search: £13.5 billion (2023).
    • Social: £6.9 billion (2023).

• Data Services:

  • Spend on Data: Increased by 21.9% from 2020 to 2023.
  • Subcategories: Third-party data, identity resolution, predictive analytics, and integration.

Macro Trends

• Gen AI: While there was significant interest and investment in generative AI, actual adoption and spending did not match the hype. However, monetization is expected in 2024-2025.
• Traditional vs. New Platforms: Traditional linear viewing continues to decline, while new platforms like BVOD and SVOD gain traction.
• Connected Commerce: There is a shift towards connected commerce, with increased focus on omnichannel strategies and the use of first-party data.
• Video Everywhere: AI is transforming creative production, activation, and measurement, driving a 30% increase in global content spend from 2023 to 2026.

Strategic Transactions

• M&A Activity: Decreased in volume by 22% and value by 30% in 2023, with strategic buyers accounting for 41% of deal value.
• Focus Areas: Commerce, analytics, experience, and data infrastructure/services.

Conclusion

2024 is expected to bring significant changes and growth in the UK advertising and marketing sector, driven by the continued shift towards digital and data-driven strategies. Key areas of focus include the integration of AI, the rise of new platforms, and the acceleration of connected commerce.