Australia’s digital ad market is doing well with double-digit growth, according to data from the Interactive Advertising Bureau (IAB) and PwC Online Advertising Expenditure Report.
Digital advertising across Australia hit $2.993bn during the first quarter of 2021 (ending at 31 March 2021), up from $2.291bn from Q1 2020.
This good performance comes hot on the heels of Q4 2020 which saw global digital advertising total to $2.9bn.
Retail ad did particularly well with a 16.4% year-on-year increase, giving them a big share of video ad spending. Finance also saw good growth with a 9.3% year-on-year increase. Additionally, real estate saw enough ad expenditure growth to end up in Q1 2021’s top 5.
In contrast, automotive ads went down by a whopping 12.5%, while tech dropped by 2.4%.
The IAB/PwC noted that advertising in the travel sector has started recovering thanks to the return of domestic tourism, with it and automotive advertising going up slightly compared to the latter half of 2020.
Overall, all categories of digital ads reported double-digit increases in Q1 2021, with search and directories (+26.5%) posting the best results.
Video continued to show its potential for growth with a 32% year-on-year increase, accounting for 54% of the growth in the general display, followed by infeed/native (31%) and standard display (14%).
That being said, total video expenditure dropped slightly to $572mn in Q1 2021, from Q4 2020s $645mn. Additionally, the report noted the increase of programmatic video trading, peaking at 61% of shares.
IAB Australia CEO Gai Le Roy stated that there’s no doubt that the Aussie ad market is bouncing back, but there’s still room for more growth. They note that king kong advertising reviews are common now as digital advertising bounces back, but as the economy recovers there’ll be more, particularly as the travel and automotive sectors recover as borders reopen and supply chains are improved.