UK ad exports overtake key industries to reach £18bn

New figures reveal that the UK exports more advertising services than it does engineering, telecommunications, legal, accounting, audio-visual, or architectural services, following a 15% increase in 2023 to reach more than £18bn, four times higher than the equivalent figure a decade ago.

Published today at Cannes Lions, analysis undertaken by UK advertising think tank Credos for the UK Advertising Exports Group (UKAEG) shows the UK is the second biggest global exporter of advertising, market research and public opinion polling services, closing the gap on the number 1 exporter, the US, from $4.7bn to $3bn.

The US remains the largest market for UK advertising services in terms of individual country exports, importing over £3.4bn worth of UK advertising, followed by Germany (£1.2bn) and France (£1bn). Exports going to Europe (including both EU and non-EU countries) account for 63% (£11.4bn) of UK advertising exports.

Creativity, talent and reputation are at the heart of UK advertising’s exports success story, according to PwC, alongside the UK’s location enabling it to transcend time zone differences with Asia and America.

The UKAEG is aiming to advance the UK’s ambitions as an export powerhouse at this week’s Cannes Lions with over 30 events planned under the ‘Business of Creativity’ programme, designed to help unlock growth opportunities. UKAEG is supported by more than 50 members from across the industry and the Advertising Association, APA, BPMA, and the IPA.

UKAEG chair Julian Douglas, who is group CEO at VCCP, said: “The UK advertising industry’s talent for effectiveness and innovation is a global success story, transforming businesses around the world. We’re excited to showcase our world leading creativity at Cannes Lions this year, and look forward to celebrating record breaking export figures with our colleagues and clients from across the industry.”

UK advertising has remained in the top three awarded countries at Lions since the tally was introduced in 2005 and is the most awarded advertising hub per capita.

The UK won 106 awards at Cannes Lions 2023, according to AA data, placing us second only to the US and the inspiration for a new outdoor campaign which reads ‘106 Lions on a shirt’, in a nod to the summer of sport ahead of us and a confident celebration of UK creativity in a year when a new humour category was added to the 2024 awards.

The poster will sit on a digital out of home screen outside the Cannes Lions award show venue, Le Palais des Festivals et des Congrès de Cannes, throughout the week of the festival. It will be supported by a social media campaign.

Advertising Association international trade director Aisling Conlon added: “The result of £18bn in exports demonstrates the power of UK advertising. UKAEG is delighted to champion the business of creativity at Cannes Lions this year, a unique platform that celebrates our achievements and explores new avenues for global growth and collaboration.

“With the most advertising awards per capita, UKAEG is committed to maintaining the UK as the global hub for advertising excellence and innovation.”