Industry Analysis & Industry Trends
The Advertising Agencies industry has endured a difficult five years. Since the downturn began in 2008-09, businesses have cut back sharply on their advertising expenses, causing revenue to contract in 2008-09 and 2009-10. The industry recovered temporarily in 2010-11, but remained stagnant in the following year as economic conditions weakened. The London Olympic Games increased demand in 2012-13, which enabled revenue to grow moderately. Despite the challenging conditions, online advertising revenue grew strongly during the past five years as consumers began assessing more media content online through tablets, smartphones and computers. However, the benefits to the industry were curtailed due to industry operators losing market share to firms operating outside the industry... purchase to read more
Industry Report - Industry SWOT Analysis Chapter
The services offered by the Advertising Agencies industry have become a part of daily life for both the public and industry customers. The shift towards online communication and digital media applications has slowed down growth and demand for industry services. As a result, the industry's life cycle is classified as mature.
Industry value added, which measures the industry's contribution to the overall economy, is anticipated to grow at a compound annual rate of 1.5% during the 10 years through 2018-19. The UK economy is also forecast to grow at a compound annual rate of 1.5% over the same period. This indicates that the industry will account for a relatively stable share of the overall UK economy... purchase to read more