Australian online advertising spend growing despite gloomy forecast
Online advertising has ballooned to over $3.7 billion for the September quarter, despite the economic slowdown and dire predictions of an industry-wide decline.
According to the IAB Australia Online Advertising Expenditure Report, online advertising increased 7.8% year-on-year, and 2.1% from the June quarter, to reach $3.732 billion for the three-month period.
Search advertising was where the majority of budgets went, with $1.63 billion spent on search and directories – despite dropping 1.6% from the June quarter. $1.451 billion was spent on general display advertising (up 2.7% from June), with $649.2 million going on classifieds – an 11.8% increase from the prior quarter.
