UK digital revenue records 3% growth in Q4 2022
By Felicia Nwosu
The new Digital Publishers’ Revenue Index (DPRI) from the Association of Online Publishers, has reported that the United Kingdom, UK digital revenue recorded a 3% growth in Q4 2022 YoY to hit £176.9 million.
It revealed that subscriptions had the highest record with 12.9% YoY while Display advertising grew by only 0.1% and video by 1.9%
On the other hand, it stated that sponsorship revenue plummeted by 24%. In addition, recruitment classifieds fell by 3.6% and other classifieds by 10.7%. Both were growth leaders in Q3 2022.
In the areas of platform, desktop fell by 9.5% and mobile by 16.7% and at the same time, Multiplatform revenues rose by 3.7% to £121.6 million, versus £28.7 million for desktop-only and £26.6 million for mobile-only.
It also noted that Multiplatform was helped by growth in video (33.3%), subscriptions (12.9%) and display advertising.
Total digital revenues rose by 4.4% to £637.7 million when viewed on a 12-month rolling basis.
Meanwhile, 75% of publishers are prioritizing cost reductions. But the same percentage is optimistic about the ad category, up from 50% in Q4 2021.
Dan Ison, lead partner for telecommunications, media and entertainment at Deloitte is impressed with the positive outlook despite the adverse effect of the economic downturn.
“Many consumers remain committed to their subscriptions, despite tighter budgets as a result of higher cost of living. It is evident that the appetite for exclusive content remains intact, making it even more important for digital publishers to continue to prioritize consistent, high quality outputs to maintain consumer interest and drive growth.”
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