Cinema ad spend grows 233% YoY in October: SMI
Ad spend in Cinema has lifted 233% year-on-year (YoY) in October, as 98% of last November’s Cinema booking volume also already confirmed, the latest Standard Media Index (SMI) figures show.
October marks the 21st consecutive month of YoY growth in the Australian advertising market, with total ad demand lifting by 4.1%.
This put October’s ad spend just $3.9 million shy of the record set in October 2017.
SMI’s Forward Pacings data shows ad spend equivalent to 86.8% of last year’s November total has already been paid (excluding Digital). That’s, as mentioned, 98% of November Cinema last year, 91% of Radio bookings and 90% of TV already booked.
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Similar to the trend last month, Outdoor media saw strong growth alongside Cinema during this period with a 51% YoY lift, putting it above the $100 million mark.
Then again, it seems to have affected demand for TV and Digital media this month, with TV bookings back 0.4% and Digital’s growth limited to 1.5%.
SMI AU/NZ managing director Jane Ractliffe said: “This trend looks set to continue as Outdoor ad spend returns to `normal’ levels, as even though the media has achieved year-on-year growth of 51% in October the total Outdoor spend is still 15% below that recorded in October 2017.”
Another key feature of the October advertising month was the strong demand from the Retail category, with its ad spend lifting 10% YoY, and the return of Automotive Brand ad spend with its total up 29% YoY.
Ractliffe said SMI has never before reported ad spend above $3 billion in the first four months of a financial year, nor ad spend above $7 billion in the first ten months of any calendar year.
“It’s clear that the ad demand we’re currently seeing in the Australian market is broad-based, reflecting a strong underlying economy and a good sense of confidence in the market,” she said.
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Darcy Song was a reporter at Mumbrella, covering media owners, adtech and social platforms. She left in October 2023.
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