The amount being spent on digital marketing continues to climb, with the latest figures showing a 5 per cent Year On Year (YOY) rise to $1.15 billion during the March quarter.
The latest IAB/PwC Online Advertising Expenditure Report (OAER) has revealed a big jump in the video advertising market, registering a 79 per cent YOY climb to $77 million.
According to the Commercial Economic Advisory Service of Australia (CEASA) Advertising Expenditure in Main Media report, the digital market continues to have the lead in overall advertising spend. 2014 saw digital advertising responsible for 36 per cent of the total $12.8 billion spent in Australia in 2014, compared to the 31 per cent seen the year prior.
Free-To-Air advertising made up 27 per cent of the overall spend, a 1 per cent drop from 2013. Expenditure on newspaper advertising dropped by 3 per cent from 2013, locking in a 16 per cent total in 2014.
IAB Australia CEO Alice Manners said the large jump in video advertising expenditure reflects the acknowledgment that more consumers are looking to access content across a range of screens.
“The recent IAB NewFronts in New York saw a record number of major players unveil their new content offerings to an industry audience of unprecedented scale,” Ms Manners said.
“It’s clear the industry is heavily investing in video content and we expect to see this continue to translate into ongoing growth in video here and in every other major market worldwide.”
The mobile sector is continuing to see strong growth. Approximately 1 out of every 3 dollars spent on General Display advertising is going to mobile advertising, which marks a 13.5 per cent YOY growth to $230 million for the March quarter. Mobile advertising now makes up 20 per cent of total online advertising expenditure.
