The new projections showed modest gains for the radio (5% growth, up from 4.7%) and outdoor advertising (6%, up from 5.1%) sectors. But the big gain was in digital advertising revenues, with an projected increase of 14.2% in digital/Internet ad spending, for a forecast of 5.35 billion pounds in digital ad revenues in 2012. At that level, online advertising will account for more than 40% of all UK advertising revenues.
Adam Smith, a director at Group M, said the overall market was sluggish. "UK advertising investment remains at maintenance levels, lagging even nominal GDP growth." ... UK growth level was "robust" compared with levels expected in other European markets this year. "Germany and France are barely positive in 2012 while Italy and Spain are expected to contract by about 8%,."
Source - TV and press ad revenues 'to fall by more than £350m this year', The Guardian