Online ad spend increases as lack of consumer confidence forces marketers to focus on ‘short-term sales targets’

Online advertising expenditure has reached $3.746 billion for the quarter ended March 31, a 9.3% increase according to data released by IAB Australia, the peak trade association for online advertising.

The results come after the IAB Australia Online Advertising Expenditure Report (OAER) reported a 4.2% easing in spend from the preceding quarter.

Compared to the same period last year, search and directories grew by 9.3%, reaching $1.724 billion, while general displayed advertising driven by social, audio and video increased by 14.8% ($1.410 billion). Meanwhile, classifieds expenditure dropped 1.8% year on year ($612 million).