Advertising spend, as measured by media agency bookings fell 1.1% in June, the smallest monthly decline reported so far
this calendar year.
Ad spend was down 5.3% in May, 5.6% in April and 6.6% in March.
GUIDELINE SMI’s data shows the Australian ad market ended the financial year with the value of total ad spend down 1.6% from last year’s record total.
Outdoor, digital and cinema media all recorded growth.
Guideline SMI APAC managing director Jane Ractliffe said the financial year total was the second highest on record.
"And if you view Guideline’s ad spend data over a longer-term period, you’ll see the market is now up 4.5% on the pre-COVID financial year and that represents an extra $376 million of ad spend that’s come into the Australian media economy since that time,’’ she said.
"But obviously the composition of media shares has changed considerably over these years with digital now representing close to 40% of all ad spend and outdoor hitting 15% of all ad bookings in the last financial year.’’
Ractliffe said outdoor was also the star performer in June, with its ad spend up 14.2% to a record June high.
The only other growth seen this month was in Cinema media, up 22.3%.
"Outdoor is clearly the media of the moment as it’s delivered record levels of ad spend for the June month, the second quarter, the calendar year-to-date and financial year periods,’’ Ractliffe said.
The biggest trend in June was a big boost in ad spend from streaming TV platforms.
At the same time, online media groups reduced their ad spend by a similar amount.
An ongoing decline in online media ad spend was also a key contributor to the lower June quarter ad spend, with that total down 2.4% despite stronger demand for outdoor, streaming TV, regional radio and press.
But given the smaller decline in the first quarter so far in 2024, total ad spend across the six months to June is back 1.6%
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