Adspend in Britain has reached a record pounds 14.3 billion - and
the news brought a hearty endorsement of the industry this week from the
Tory leader, William Hague.
But he warned it to be on its guard against threats to self-regulation
and called for agencies not to be tied down by over-taxation.
Hague’s comments came as the Advertising Association published figures
showing a 4.1 per cent increase in adspend in real terms, the seventh
consecutive annual rise.
At the same time, advertising’s share of the gross domestic product has
reached a record level of 1.71 per cent, exceeding the pre-recession
peak of 1.19 per cent.
Press advertising still brings in the highest proportion of overall ad
revenue, accounting for about 52 per cent of the total. TV is the second
largest medium with 28 per cent.
Speaking to industry representatives at the AA’s annual lunch at
London’s Savoy hotel, Hague cited the figures as proof of the industry’s
’tremendous success story’.
He said: ’When we talk about digital TV and the internet, we should
remember nobody could pay for these things if it wasn’t for you.’
Recalling his party’s ’famous associations’ with the industry in the
past, Hague said both had been in the process of reinventing themselves
to adapt to an age where businesses were becoming small and flexible and
traditional brand loyalties had broken down.
’I want your industry to take full advantage of the enterprise culture,’
But Hague claimed the culture, as personified by the ad industry, was
threatened by a Government that was over-regulating and taxing
He swung his party’s support behind efforts to thwart Sweden’s attempt
to extend its ban on TV advertising to children across the EU.