Australia’s ad spend this financial year (July 23-June 24) has finished stable at $8.7 billion, just 1.6% less than last year’s total figure.
Across the full FY, the Outdoor, Digital and Cinema ad segments all reported growth.
Last month, the regional media (regional radio, tv, press) and smaller cinema segments both grew.
In June, spending on Audio (radio and streaming/podcasts) was down 0.3% on the previous month, with digital audio ad spending increasing by 10% and radio advertising falling by 1%.
Over the full financial year digital media advertising grew, with Outdoor the star performer now that the pandemic is over, staff are returning to the office more days per week and people are back on the road again.
The search and social platforms, identified as ‘Online Media’ in the SMI index, declined across the FY as trust in those platforms declined due to scammers and unsafe brand environments.
Guideline SMI APAC Managing Director Jane Ractliffe said the fact the financial year total was the second highest on record shows the market’s underlying strength.
“If you view Guideline’s ad spend data over a longer-term period, you’ll see the market is now up 4.5% on the pre-COVID financial year and that represents an extra $376 million of ad spend that’s come into the Australian media economy since that time. But obviously the composition of media shares has changed considerably over these years with Digital now representing close to 40% of all ad spend and Outdoor hitting 15% of all ad bookings in the last financial year.’’
