Sir Martin Sorrell’s advertising group, WPP, has called an end to the Brexit shock that has hammered the ad market since the EU referendum vote in June and upgraded its forecast for the industry. Adam Smith, futures director at Group M, said: “While the effect of the future European Union exit on the UK is unknown, the short-term impact was negligible. Even factoring in digital ad income, the national newspaper ad market is expected to contract by 12% this year and another 9% next year. Group M has cut is 2017 TV ad growth forecast from 4% to just 1%. Many analysts believe that this is too rosy and that the £4.5bn UK TV ad market could contract by as much as 4% next year.

Source: The Guardian November 14, 2016 00:00 UTC