Australian ad spend nears $9bn in 2022: SMI

The advertising spend in Australia closed in on the $9 billion mark in 2022 and represented a 6.9 per cent  year-on-year (YoY) increase, according to figures from Standard Media Index (SMI).

The current market size is now 10.9 per cent or $875.7 million larger than the pre-COVID level in 2019. SMI AU/NZ managing director, Jane Ractliffe, said at this rate, the Australian ad market’s value “will be well north of $10 billion in the next few years”.

“Growth in the Australian ad market looks to be accelerating not just post-COVID but also more broadly as we can see that in the past ten years the value of the ad market has grown by a remarkable 39.4 per cent, which represents an extra $2.5 billion in advertising bookings,’’ she said.