Commonwealth Games drove April’s ‘perfect advertising storm’, SMI claims
The Commonwealth Games drove advertising spend in April with metropolitan TV seeing 15% growth over last year’s figures, the Standard Media Index reported today.
Along with the terrestrial TV surge, Seven’s online streaming of the games also saw digital video spending grow 54% over the previous year, driving the month’s total ad spend up 6% to $586.5bn.
SMI cofounder, Jane Ratcliffe: “We really are seeing a perfect advertising storm with the Commonwealth Games”
Along with the Commonwealth games, the Banking Royal Commission was also a driver of ad spend with the domestic bank advertising category also reporting over 54% growth, leading SMI cofounder Jane Ratcliffe to describe the month as a “perfect advertising storm”.
“We really are seeing a perfect advertising storm with the Commonwealth Games, the Royal
Commission and a lesser Easter impact this month combining to deliver record ad spend,” Ratcliffe said in a statement.
“But even without the timing and event-related impact, we can see the strength of the underlying
market with seven of the ten largest product categories reporting double digit growth in April
which is truly incredible.”
Excluding the Commonwealth games, digital advertising spend grew 11.3% with social media recording a healthy 19.8% gain despite the ongoing Cambridge Analytica scandal.
For print, the news was not so good with newspapers recording a 22% drop for the month and magazines over 28%. Cinema also saw a 22% decline.
While banking spend delivered a healthy growth, it was only the fourth biggest spend with biggest categories – Auto brand, insurance and government – recording 15.4%, 10.8% and 20.7% respectively.
For the ten months of this financial year, total spend is up 6.1% with revenues breaking through the $6bn for the first time.
How can cinema be down? They’ve had record attendance, right?
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Looks like someone has confused box-office sales figures with advertising expenditure. Media 101. Sheesh!
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