It’s not really talked about, but a considerable proportion of Australian media spend flows overseas, with some estimates saying up to 60 per cent goes to global tech giants like Meta and Google.

While these platforms have their place, such a large figure should prompt us all to question – are we missing a trick by diverting so much money away from our local landscape?

Because investment in local media, and particularly in local news media, delivers significant benefits to our businesses and brands, our media and marketing industries, and to Australian society more broadly.

Thankfully, I’ve been encouraged by conversations with media agency and marketing leaders, who clearly understand this, and recognise the power they have to take action, and shape a positive future we all want.
 

Better work

From an advertising perspective, local media helps brands connect with consumers in relevant and meaningful ways as they have a deeper understanding of Australian audiences.

Australian news publishers are particularly strong in this area. Every day they tell the Australian story by covering what’s happening in this country and what Australians care most about – be that in politics, business, sport or the property market.

As Jason Tonelli, CEO at Zenith Media Australia said, “Australian publications, have been very good at talking about Australia to Australians.”

Publishers also have strong and habitual relationships with their readers and significant amounts of first-party data. This enables advertisers to target local audiences more effectively, deliver better brand experiences and more impactful campaigns.

As Kim McConnie, Group Executive Marketing at Tourism and Events Queensland, recently told me, “it's really hard to leverage other mediums to really be able to tell the richness of the characters, the people, what they do, who they are in a way which is relevant in that moment at that time. And I think that is one of the strengths of news.”
 

Better industries

Beyond campaigns, more advertising dollars spent onshore means stronger and more sustainable local media and marketing industries.

It means more jobs in content creation, media planning and marketing teams; more creativity, collaboration and innovation; more personal and industry development; and more interesting, bold and impactful work.

It creates an opportunity-mindset where young Australian media and marketing executives see a great future in our industries, and are confident they will have an enriching and rewarding career.

Michelle Klein, Chief Customer and Marketing Officer at IAG, puts it well, “(We have) a responsibility to keep our entities, our local businesses, our small businesses, the things that we create here flourishing… Investment in the country is so critical to economic growth and opportunity.”

Regarding news media specifically, the same is true. Local investment means more innovative, effective and robust publishers. This is not only great for our news, media and marketing industries but for the whole of Australian society as well.
 

Better society

Our democracy and our society rely on Australians' ability to obtain credible information from thriving local news brands.

News publishers’ rigorous journalistic standards, and their ability to provide fact-checked, credible information is the most powerful antidote we have to the misinformation and disinformation that threaten our social cohesion.

A strong news environment ensures the community is well-informed and that diverse voices are heard. It ensures governments, businesses and powerful people are held to account. And it ensures Australian perspectives, values and voices are elevated, connecting us within our national identity.

A strong local news industry is a vital part of a flourishing and resilient future Australia.
 

A call to action

Australia’s advertisers and media agencies shape the Australian media landscape with their investment choices. And in doing so, they can have a strong and positive impact on Australia’s brands and on our local media and marketing industries.

When it comes to choosing to invest in local news media, this potential positive impact broadens to include the health of Australian society and the future we can all have together.

As Angela Smith recently told me, “It's really important for brands to show up in a news environment and make sure that what we have now is there in the future. In order to achieve that integrity, we also need to invest in it.”

I am hopeful more become aware, and act on the power they hold.