In the absence of any major threats to the industry, spending in the UK advertising market could increase by up to 36 per cent in real terms by 2018, a new study has stated.
According to the latest forecast, compiled by the World Advertising Research Centre (Warc) for the Advertising Association (AA), a recovery is expected over the coming year with annual growth in advertising peaking in 2009.
Such expansion would follow a slow period over the past two years after strong performance in 2004.
One of the main reasons behind the forecasts is the fact that underlying economic forces driving advertising expenditure are likely to continue to be positive for the foreseeable future.
Warc pointed out that the performance of individual media will be influenced by growth in adspend and also by competition forces that will affect spending in other forms of media.
However, while the fortunes of certain areas could be mixed in the coming years, the report predicts that the general pattern for the advertising sector will be one of growth, despite potential threats to the industry.
According to the AA, this forecast is the most comprehensive it has ever produced, as it divides advertising expenditure into various categories, allowing the data to be compared to other studies published by the association.