Britain will remain one of the world’s most lucrative markets, says report
Spending on advertising, communications and entertainment will rise by four per cent a year in the next four years, new research suggests, much of it driven by the web. According to professional services firm PricewaterhouseCoopers (PwC), the UK will continue to be seen as one of the world’s most lucrative advertising markets with revenues of around £65.5 billion achieved by 2017. Online advertising, it suggests, will rise by an annual 9.9 per cent as firms home in on mobiles and laptops to spread their digital messages.
Internet access will prove the next biggest growth area – the amount consumers pay to go online – rising by 9.3 per cent a year as users switch to 4G mobile contracts and fibre broadband.
“Across the world, consumers’ access to entertainment and media content and experiences is being driven to new heights by our ever increasing access to the internet and the explosive growth in ownership of smart devices,” said PwC’s head of UK entertainment and media, Phil Stokes.
Meanwhile, in a separate report, technology analysts, Gartner, is forecasting a parallel rise in mobile payments.
It predicts revenues from the sector will rise 44 per cent this year as both consumers and retailers warm to smartphone payments.
Gartner contends that, globally, mobile transactions will hit £154 billion this year, with 245 million people adopting the technology.
But it also argues that uptake of NFC technology in stores will be slow, pointing out that it accounts for only two per cent of payments worldwide so far, a trend it describes as “disappointing.”