The indomitable Google and Facebook have managed to stitch-up 54% of the UK’s digital ad market, new research has revealed.
The figures, from eMarketer, show that the internet goliaths have netted £6.3 billion between them in 2017 (Google £4.43bn; Facebook £1.87bn) in ad revenue– and with predictors predicting that the market is set to grow 11% by the end of the year, they can expect to host even greater Christmas parties in the future.
eMarketer’s figures show that total spending on digital advertising will hit £10.89bn by the end of the year.
The firm’s senior analyst, Bill Fisher, said: ‘There have been signs of tough times ahead for the UK ad industry. 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.’
What any of this good news for internet firms means in terms of tax revenues for the UK’s coffers is a matter for another day, as always.