The latest IAB/PwC Australia data shows digital advertising has continued to demonstrate strong growth, which bodes well for current consumer confidence and the overall health of the Australian economy.
The data shows digital advertising was up 25.8% year on year for the March quarter 2021, with a total digital advertising spend of $2.883 billion for the 3 months to 31 March 2021. This comes after a solid Q4, 2020, which saw total digital advertising spend reach $2.9 billion.
Search and directory advertising increased 26.5%, while general display increased by 28.9% and classifieds increased by 28.5%.
Retail advertising was a particularly strong performer, up 16.4% year on year, with finance advertising also up 9.3% year on year. However, automotive advertising was down 12.5% and technology was also down 2.4% year on year.
Thankfully, the travel sector has begun its recovery due to a boom in domestic tourism, with both travel and automotive advertising up slightly in comparison to the second half of 2020.
Video advertising represented the largest share of ad spend with 54% growth, followed by infeed/native advertising with 31% growth and standard display with 14% growth.
IAB Australia CEO, Gai Le Roy said, “There’s no doubt the Australian market is bouncing back, but there’s still plenty of room for further growth, with expectations that as borders reopen and supply chains improve, both the travel and automotive categories will increase investment in digital advertising.”