News in brief: IAB Tech Lab Releases Privacy Guidelines for Public Comment; UK Ad Spend to Hit £10bn in 2024; US Ad Spend Continues to Climb
IAB Tech Lab Releases Privacy Guidelines for Public Comment
In order to support the industry’s adoption of privacy standards, the IAB Tech Lab has released Global Privacy Platform Implementation Guidelines. Its key offerings include a roadmap to implementation for new users, enhanced resources for experienced teams to refine implementation, and practical steps for compliance with global privacy regulations. The guidelines are open to commentary from industry executives for a period of 45 days before they are made official on 16th December. Guidelines are outlined for vendors as well as publishers and advertisers, taking into consideration regulatory requirements and legal compliance, user experience, vendor/partner compatibility, technical integration and cost, among other factors.
UK Ad Spend to Hit £10bn in 2024
Turning our attention to ad spend, the Advertising Association and WARC have released their latest ad spend report for Q2 2024. Figures demonstrate a significant rise in UK ad spend, up 13.4% to reach a total of £10bn. Looking ahead, UK ad spend is expected to grow at a faster rate than other European markets including France, Spain, Italy and Germany. Globally, ad spend is predicted to cross the £40bn mark for the first time this year, predominantly due to better digital results.
US Ad Spend Continues to Climb
Meanwhile in the US, an analysis by MediaPost finds that the advertising market expanded at double-digit rates for the third consecutive month in September, seeing a 10.1% increase over the same month last year. September’s ad spend was only slightly lower than that achieved by previous months (14.2% in July and 12.1% in August), with both July and August being fuelled by ad spend directed at the Paris Olympic Games coverage.
