Australia’s advertising market is “uncertain and volatile” with print and television under continued pressure and only 0.7% growth expected for next year, according to ZenithOptimedia’s global adspend forecasts.
This compares to 4.6% growth expected for the global ad market next year, led by emerging markets and digital media.
Key advertising categories in decline in Australia currently are finance, toiletries/cosmetics and food. Automotive, pharmaceutical and alcoholic beverages are helping to uphold a “flattish” result overall now, the media agency said.
Consumer spending continues to be a worry. “While there was a boost in the March quarter, this was largely attributable to government subsidies provided in advance of the carbon tax. The June quarter consumer spending figures have shown a return to a weaker level,” reads the report, released today.
The report noted that while Australia’s economy continues to outperform the global economy, a cooling of the mining sector and falling commodity prices are key challenges ahead.
The agency concluded: “Early indicators of adspend in 2013 suggest that there will be a return to slight growth.”
Australia’s advertising growth – 2000 to 2014 (forecast)