advertising market

We operate within the global advertising market, valued at $889bn in 2023. Despite the challenging macroeconomic environment of high interest rates and persistent inflation, combined with ongoing geopolitical conflict, the global advertising market has withstood this turbulence and continued to grow. At the close of 2023, market growth was estimated to be 5.8%, down marginally on the 6.5% growth seen in 2022, but demonstrating resilience in the face of a challenging macro picture.1 2024 growth in global advertising is expected to remain strong and the long-term outlook is also robust, with advertising spend poised to continue its upward trajectory.


media market

We are a digital advertiser and operate in the biggest and fastest growing segment of the advertising market. Digital advertising spend amounted to over $617bn in 2023 and growth in digital media continues to outpace other, more traditional, segments of global advertising, with spend rising by 9.2% in 2023 and reaching another all-time high.1 Digital currently accounts for around 70% of total advertising revenue worldwide and this figure is forecast to continue to grow over the coming years, reinforcing the size of the opportunity ahead of us.


Addressable Market

Our target addressable market of $6bn reflects an estimated subset of that digital advertising market encompassing our core geographies, which have significant levels of advertising spend, our direct and indirect revenue channels and the demographic of our young adult audience.

The recent acquisition of Betches, and our further expansion into the US, continues to put us at the heart of some of the highest spending advertising markets globally. The US represents the largest advertising market in the world and the opportunity to expand our operations across both direct and indirect is substantial. The UK, another of our core markets, rose to being the third largest global advertising market in 2023 and recent positive changes to our operating model in Australia and New Zealand provide a solid foundation for growth in the region.1

With our ongoing organic growth, supported by our M&A ambitions, we believe the Group stands at an exciting juncture in its evolution. The size of our addressable market and expansion into the US gives us confidence in our line of sight to £200m of annual revenue.

Latest Investor News

23 May

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Important Dates

23 May
Annual General Meeting