Ad spend through agencies is on track to break through the $8 billion investment mark for the first time, with growth of 3.1% in the 2014/15 financial year, according to SMI figures.
The market grew by $234.8 million over the year to hit a record level of $7.8 billion, aided by further growth in June which rose above the $700 million mark for the first time in any June.
Financial year growth was buoyed by digital which now accounts for more than 20% of all spend for the first time in a financial year. Outdoor also moved to take double digit spend with 10% of spend while radio grew to take 7.8% of all spend.
Television dropped slightly but still takes 46.3% of all adspend while newspaper ads dropped to 9.8% and magazines to 3.1%. Cinema remained steady on 0.9% of adspend.
Similarly, in June digital bookings are up 5.6% before late bookings are included while outdoor organically grew 17.2% year on year.
Cinema saw huge growth of 46.1% to $8.0 million from a low base, while radio grew 3.9% to $60.6 million.
Meanwhile newspaper and magazines saw falls of 17.5% and 14.9%, taking monthly spend to $59.4 million and $16.1 million respectively. Television fell slightly by 1.7% with total monthly spend of $323.1 million.
SMI found that the “key take out” of financial year growth was that it came from the market's smaller categories. The five categories that delivered the largest dollar growth, contribute less than 3% of the market's total, however the dollar increases they generated were “exceptional.”
This included categories such as education which boosted spend by $49.0 million to $153.2 million, recruitment which increased by $35.7 million to $87.2 million and gambling which grew 34.4 million to $200.5 million.
For June, much of the growth is due to a 73.9% year on year boost in spend from government advertisers; an increase of $16.9 million to $39.7 million. Last year elections were held in Victoria, Tasmania and South Australia along with a senate election in Western Australia.
Other large category increases include food and alcoholic retailers which increased by 15.5% to 26.6 million, and automotive which boosted by 8.4% to $70.8 million. The biggest drop in June came from communication which slid 17% to $34.6 million.
Check out this snapshot SMI infographic from Atomic 212 for more...
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