Digital advertising contributed £175bn to the UK economy this year and supports 2.6 million jobs, according to research IAB UK published last Wednesday (23 September).
The report was carried out by consultancy Public First but commissioned by IAB UK, the industry's own trade body, so read it as a well-argued pitch rather than a neutral audit. Marketing Week has reported the same figures, but all of them trace back to the IAB report.
The growth is the headline. IAB's 2022 study put the figure at £129bn, so that's a £46bn (35%) jump in four years, which IAB says is ten times the growth rate of the wider economy. Jobs have climbed from 2 million to 2.6 million, around 8% of the UK workforce, per Marketing Week.
Looking ahead, the report says the sector could hit £242bn and add another 1.2 million jobs by 2035. That's the optimistic scenario, though, and it depends on government getting policy right on AI, data, investment and skills. IAB is clear the prize "cannot be taken for granted".
There's plenty for SMEs too. Digital ad spend drives an estimated £53bn a year in sales growth for smaller businesses, more than double the £26bn recorded in 2022.
Why it matters: this is the number to have ready next time a CFO calls marketing a cost centre. It's also a lobbying document, landing while AI and data rules are still being written. Use the stats, but know who paid for them.
Sources: IAB UK and Marketing Week.