Australia’s media agency market has finished the calendar year close to last year’s record level, with the value of the ad spend back just 2.7 per cent to deliver the second largest total of annual ad spend ever recorded, according to the latest SMI Data. Even so the top-line total remains 8.2 per cent – or more than $660 million – larger than the pre-COVID 2019 total. “So Outdoor is doing well in a market that’s emerged as the second largest ad market of all time, with last year’s abnormal Federal Election boost delivering a huge record total. And the Government category clearly reported the largest decline with total ad revenues back by more than $100 million on the CY2022 year. Within that Outdoor revenues are up 14.3 per cent and Digital ad spend has lifted 3.4 per cent.

Source: The Star February 05, 2024 11:21 UTC