SMI data shows record ad bookings heading into final quarter
Australia's ad market has fully shrugged off Covid, according to the level of spend placed by media agencies this financial year. SMI data shows both a bumper March and record breaking year to date with digital, outdoor and TV making hay and election spend set to boost the final quarter.
What you need to know:
- Spend surpassed $6bn for first time at this stage of financial year.
- Election ad spend bodes well for full year.
Australia’s ad market is fully recovered according to SMI ad data. The firm, which records spend with publishers placed by media agencies, said ad bookings for the March quarter and for the financial year to date were higher than ever, with FY 2022 now standing at $6.36bn
Election spend looks set to drive a strong final quarter, per the firm, with government now the largest spending category outside of retail.
SMI AU/NZ Managing Director Jane Ractliffe said the data shows a 9.4 per cent increase in ad spend over the March quarter, with TV up 2.2 per cent, digital up 19.2 per cent and outdoor bookings climbing 8.7 per cent.
Financial year-to-date spend has reached record levels, up 14.2 per cent. Digital, powered by search and social, remains the largest media with 24.2 per cent gains. Outdoor bookings have grown 11.9 per cent and TV ad spend is up 7.4 per cent.
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