Dear IAB Community,
Investment in digital advertising in Australia was up 9.7% for FY24 compared to FY23 and up 14.1% for the June quarter versus the previous comparative quarter. Detailed breakdowns and trend information on market investment are now available for IAB Australia members in the newly released Internet Advertising Revenue Report and accompanying data. This report (previously named the Online Advertising Expenditure Report) has had a makeover including more in-depth information on types of video investment as well as social spend. Retail remained the top advertiser investment category for content publishers followed closely by automotive which has seen a big uptick in share of spend over the past couple of years.
The market saw strong growth in search, social and video formats. Digital audio was the fastest growing reported format (albeit if from a lower base) with growth of 24% yoy. Within the digital audio spend, the podcast ad market was worth $105m for FY24 and if you are interested in the podcast sector, I would recommend reviewing the recent IAB US report titled Podcasting in the Creator Economy.
I can't wait for the MeasureUp conference next week where presenters have been challenged to share new data, techniques and case studies for ad effectiveness and media measurement. There is a huge line up with speakers from Gain Theory, Mutinex, Domain, Lion, University of Tasmania, Scope3, Google, Optus, Samba TV, Audience360, Yango, BYD, Meta, Spotlight, P&O Cruises, Criteo, Coles360, Kinesso, Diageo, Milton Data, OzTAM, Tracksuit and Naked Spirits.
Our friends at Ipsos have just released a major report looking at audience behaviour in relation to the finance sector. Based on Ipsos iris insights the Finance Category Report outlines where Australians are going for financial support and information, content consumed, cross consumption and rich competitive insights that can be used to drive better outcomes for Australians seeking financial support and guidance. There are also a range insights from Ipsos iris in our nickable charts with recent resources on sports, auto and lifestyle for members.
I have had so many interesting conversations in market about the findings in the latest Digital Advertising & Ad Tech Talent Review, if you haven't downloaded it yet it is definitely worth a read.
More resources from Google and Samba below as well as some great job openings.
'Til next week
Gai
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