UK ad spend grew 4.2 per cent in Q3 2014 to reach £4.3bn, according to the latest figures from the Advertising Association/Warc. Growth slowed from Q2 2014, when the football World Cup contributed to an increase of 8.5 per cent, but was in line with Q1 2014 and H2 2013.

The Advertising Association/Warc are forecasting total 2014 UK ad spend of £18.5bn, compared with £17.5bn in 2013. 2014’s actual figures will be released in May. Of this, online is forecast to account for £7.1bn, compared to £6.2bn in 2013. And of this, mobile is forecast to hit £1.6bn in 2014, compared to £1bn in 2013. If achieved, this would represent an increase of 56.1 per cent over 2013, and make mobile the highest-growing sector in UK advertising, followed by broadcaster VOD (Video on Demand) TV advertising, which is forecast to grow by 27 per cent to reach 160m in 2014; and digital advertising from regional news brands, which is forecast to grow by 22.8 per cent to reach £171m in 2014.

Online advertising overall, including mobile, is forecast to grow by 14.8 per cent in 2014 to hit that figure of £7.1bn. Based on the 2013 figures, the billion pounds spent on mobile advertising is more than out of home (£990m), radio (£537m), and cinema (£185m).

While these figures look encouraging, it’s worth noting that the forecasts have been revised downwards, reflecting a more cautious outlook for UK GDP and concerns over the Eurozone in 2015. The Advertising Association/Warc report predicts overall UK ad spend growth of 5.7 per cent this year (down from 6.5 per cent) with full year 2014 forecasts adjusted down from 6.4 per cent to 5.8 per cent. Despite this, the period 2014-2015 will represent the strongest consecutive growth years for UK ad spend this century, and reflects a sector significantly outperforming the wider economy.

“Two years growth at twice the rate of the economy is hardly a recipe for pessimism, but ad spend isn’t immune to pressures on other sectors,” said Tim Lefroy, chief executive at the Advertising Association. “The underlying story, however, is of a sector continuing to feed growth, jobs and opportunity.”