Internet advertising grew 9.7% to $15.6 billion in Australia in the year to June, according to the IAB Australia Internet Advertising Revenue Report (IARR) prepared by PwC.
Video advertising grew 18.6% to $4.1 billion, while search & directories increased 10.4% to $6.9 billion. Classifieds grew 4.3% to $2.5 billion, while general display (excluding video) advertising fell by 1.1% to $2 billion.
Traditional standard display formats fell by 13.1% to $558.5m and digital audio performed strongly over the year, increasing 23.6% to $290.2 million.
For the financial year, connected TV continued to yield the greatest share of content publishers’ video inventory expenditure, increasing to 55% (up from 47%), with both mobile and desktop expenditure decreasing.
Buying internet advertising from an agency via insertion order decreased year on year, down from 46% in FY23 to 42% in FY24. Over the same period, client direct buying increased from 15% to 18%, while programmatic purchasing increased 39% to 40%.
Retail remained the number one advertiser industry category for display inventory representing 17.7% share of the ad spend, followed by automotive at 15.4%.
IAB Australia CEO Gai Le Roy said the results for financial year 2024 show that marketers continue to increase their investment in reaching audiences across a range of digital advertising environments.
"While video and audio formats continue to grow the overall market, there is still a strong skew towards driving short term sales results with strong investments in search and social," she said.
"In the June quarter results we saw a solid growth uptick in the classified listings revenue category, which was up 21% versus the previous June quarter, led by automotive and real estate activity.”
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