Upon the publication of the ACCC’s digital advertising inquiry, Google has released new research highlighting the benefit of ad tech for Australian businesses.
While the ACCC’s report is highly critical of the tech giant – accusing Google of stifling competition in ad tech – the tech giant is now looking to educate the market.
“Advertising technology (or ‘ad tech’ as it’s known) is helping support our digital economy and has given Australian businesses and publishers new ways to reach their customers and grow their audiences online,” Google Australia said in a statement.
“The innovation of technologies like ad tech has provided a lifeline for many businesses during the pandemic, and an online ecosystem for businesses to compete and thrive. While our global, national and local economies continue to experience considerable impacts from COVID-19, we know that many businesses are looking to recover — and for many, that recovery will be enabled by digital technologies.”
Google’s new research, which was carried out by PwC, found that Google’s advertising technology directly supports more than 15,312 full-time equivalent jobs and indirectly supports another 7,570.
Additionally, the report claims that Google’s technologies have led to higher employment across all industries in Australia on the back of improved business results.
The industries found to have the highest number of workers supported by ad tech were Professional, Scientific and Technical Services, Financial and Insurance services, Manufacturing and Wholesale Trade.
It is estimated Google’s ad tech contributes $2.45 billion in gross value add (GVA) to the Australian economy each year.
Of the businesses that use Google’s advertising products, most (three out of four) observed some benefit, according to the research.
Ad tech as an exporting tool
The PwC/Google report also looked at the role of ad tech in driving exports.
According to the data, advertising technology annually boosts exports by $1.1 billion by stimulating economic activity across all industries.
This is a result of some 28 per cent respondents revealing their advertising media is targeted at overseas markets.
