Google and Facebook are forecast to take their share of the UK digital advertising market to more than 55 per cent next year.
The US giants, known as the “duopoly” by media critics, will pull in £6.3bn of digital advertising revenue this year, or 54 per cent of the market, according to eMarketer figures out today. Google is expected to account for 38.8 per cent of the market and Facebook for 15.6 per cent.
Next year, eMarketer is forecasting the pair will make up 55 per cent of the market, and 56 per cent in 2019. In 2009, when eMarketer records begin, they made up 45 per cent of the market, with 43.6 per cent going to Google and 1.4 per cent to Facebook.
How Facebook and Google have grown in UK digital advertising space since 2009
“There have been signs of tough times ahead for the UK ad industry,” eMarketer senior analyst Bill Fisher said, commenting on the latest forecasts.
“Despite uncertainty around Brexit and struggles among some of the big agencies, digital continues to attract ad spending, with Google and Facebook the biggest beneficiaries.
“That they’re attracting such spend is perhaps a symptom of the wider market concerns, with brands looking to get the biggest reach for their buck – something that Google and Facebook clearly offer.”