Australian ad market remains stable, while outdoor soars by 14.2%
The Australian ad market remained stable as the financial year concluded, with total ad spend down by just 1.6% compared to the previous year, Guideline SMI data reveals.
Moreover, ad demand in June is back just 1.1% accounting for the smallest monthly decline reported this calendar year.
Guideline SMI APAC managing director Jane Ractliffe said the findings demonstrated the market’s underlying strength.
“If you view Guideline’s ad spend data over a longer-term period, you’ll see the market is now up 4.5% on the pre-COVID financial year, and that represents an extra $376 million of ad spend that’s come into the Australian media economy since that time,” she said.
“Obviously the composition of media shares has changed considerably over these years with digital now representing close to 40% of all ad spend and outdoor hitting 15% of all ad bookings in the last financial year.”
With ad spend soaring by 14.2%, outdoor advertising was the key performer in the June results. Growth of 22.3% was also seen in the cinema media sector and among all regional media.
“Outdoor is clearly the media of the moment as it’s delivered record levels of ad spend for the June month, the second quarter, the calendar year-to-date and financial year periods,’’ Ractliffe continued.
A key trend in the findings was a substantial boost in ad spend from streaming TV companies; at the same time, online media groups reduced their ad spend by a similar amount.
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