Digital advertising has exceptional growth trajectory in Australia, according to a report by the Commercial Economic Advisory Service of Australia (CEASA).
The report found that digital advertising snared 37% of the total $6.2 billion advertising market spend in Australia for the first six months of 2014. Free-to-air TV was static at 27% share and the remaining third of ad spend was split between all other advertising segments combined.
The CEASA Report also found that digital advertising accounts for 34% of all advertising expenditure for the 2014 financial year, up to 30% in the 2013 financial year.
“Mobile advertising is now outperforming both the magazine and outdoor advertising sectors, while video advertising is already more than double the total cinema ad market. Indeed current growth projections suggest that video advertising spend will reach almost half the pay TV ad market for this calendar year,” said Alica Manners, CEO of IAB.
Gai Le Roy, IAB Australia’s Director of Research, said that the total digital market was at $236 million in 2003 compared to today’s $4.4 billion. People are shifting their advertising dollars to follow consumer behavior and changing media consumption.
The Interactive Advertising Bureau (IAB) in Australia was added in 2010. Their main objective is to “support and enable the media and marketing industry to ensure they thrive in the digital economy.”