Ad revenue has seen massive growth as COVID lockdowns and the pandemic comes to a close, with record advertising demand for the March quarter as well as the financial year-to-date. Gains have been seen in Digital, Cinema and Radio Media. While March levels were higher in 2018 and 2019, the continuous increase and consistent growth indicates a return to those numbers.
Standard Media Index’s Forward Pacings data show that April is set for growth too, as spend currently sits only 2.6% lower than April 2021, and a week left of trading still to be included.
Credit: Mumbrella
Jane Ractliffe, Managing Director of SMI AU/NZ says the result demonstrates a now consistent growth that has occurred in response to the COVID period ending.
“Australia’s ad market has not only been rebuilding since COVID, but it’s also entered a new period of stability as there’s been year-on-year growth in monthly ad spend for 14 consecutive months and only one month of negative ad spend in 17 months,”
“It really is an extraordinary turnaround from the dark days in mid-2020 when the impact of the COVID pandemic was at its peak. Now the ad market has followed the economy in learning to live with COVID and that ensures more certainly for all media stakeholders.”
Over the march quarter, the SMI was reporting 9.4% increase in ad spend, with value of digital ad spend up 19.2%, outdoor bookings at 8.7% and tv media up 2.2%.
Digital Media has the highest spend, which has increased 24.2% over the financial year.
