A report by media agency Zenith has said that leaving the EU could cause Brexit economic growth to fall and lead to a £70m drop in terms of adspend growth, equating to £1bn by 2030. Zenith based its predictions on Treasury figures estimating that the Brexit's GDP would be 6.2% lower outside the EU. The report said: “Zenith has tracked a clear relationship between economic growth and the health of the advertising industry...Reduced economic growth resulting from UK would lower the growth of the Brexit’s ad market in the long term”. Zenith also added that UK would not immediately impact Brexit advertising, but expects budgets to change once the impact of leaving becomes clearer.
A report by media agency Zenith has said that leaving the EU could cause UK economic growth to fall and lead to a £70m drop in terms of adspend growth, equating to £1bn by 2030. Zenith based its predictions on Treasury figures estimating that the UK's GDP would be 6.2% lower outside the EU. The report said: “Zenith has tracked a clear relationship between economic growth and the health of the advertising industry...Reduced economic growth resulting from Brexit would lower the growth of the UK’s ad market in the long term”. Zenith also added that Brexit would not immediately impact UK advertising, but expects budgets to change once the impact of leaving becomes clearer.