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Growth slows for online ad spend, but one format is booming: IAB Australia

August 31, 2023 10:03

Growth in online advertising spending has slowed significantly in the Australian market, from a 22% year-on-year increase in the 2022 financial year to just 1.8% in FY23. However, podcast advertising boomed in the June quarter.

According to IAB Australia and PwC’s latest online advertising expenditure report, challenging economic conditions contributed to the slowdown in overall online ad spend, along with a strong comparative period, which included last year’s federal election and the Summer and Winter Olympics.

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Darcy Song was a reporter at Mumbrella, covering media owners, adtech and social platforms. She left in October 2023.

Topics
Gai Le Roy IAB Australia online advertising
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