SMI Data: Aussie Ad Spends Hit Record $8.8 Billion In 21/22 Financial Year
Australia’s media agency market has emerged stronger and more confident from the COVID pandemic, with SMI’s end of financial year ad spend revealing record levels of ad spend for the month of June, the June quarter and the 2021/22 financial year.
Total June ad spend lifted 0.4 per cent from last year’s record level to a new record level of $775 million, which in turn fed into a 7.1 per cent increase in June quarter ad spend to a record $2.26 billion (up $150 million on Q2 2021) and calendar year growth of 10.6 per cent to a record $4.2 billion.
SMI AU/NZ managing firector Jane Ractliffe said that all resulted in an extraordinary 2021/22 financial year result, with total agency billings growing $1.1 billion over the previous FY to $8.8 billion representing growth of 14.5 per cent.
“The latest SMI financial year ad spend detail confirms the Australian market has moved well beyond the COVID period, with the total financial year ad spend now 6.4 per cent or $528 million larger than in the pre-COVID 2018/19 period,’’ she said.
“The data also affirms the ongoing growth of agency ad spend in Australia, with the market arguably on track to hit $9 billion in size next year, having grown by more than 35 per cent – or by $2.3 billion – in the past 10 years (since FY2011/12).’’
Ractliffe said the financial year record also remained when government category ad spend was removed to normalise the data for all federal elections, with total growth in ad spend still up 7.4 per cent on that basis.
Ractliffe also said the SMI data proved the Australian and NZ markets were also more resilient in June than their global counterparts, with NZ also reporting a small increase in June ad spend (+0.2 per cent) while in contrast SMI’s US data has just revealed the first decline in that market in 22 months (-3 per cent YOY); while in Canada the market fell four per cent in June and in the UK the decline was 13 per cent.
“Clearly advertisers in our region are more confident in the future than those in the northern hemisphere as they are continuing to invest strongly in their media investment,’’ she said.
In Australia, the key product category trend this year has clearly been the phenomenal growth in government ad spend, with the total growing $200 million from the previous FY to more than $550 million, overtaking the automotive brand category as our market’s second largest.
Another key trend has been the return of travel category ad spend, with the total growing by 31 per cent this financial year and continuing to lift its ranking each period such that by the month of June travel emerged as the market’s fourth largest, up 36.6 per cent year-on-year.
Among the major media, standalone digital media is reporting the strongest gains in both June and across the financial year (+10.9 per cent and +25 per cent) with video media growing 7.7 per cent over the financial year, audio ad spend lifting 11.2 per cent, news media ad spend lifting 3.3 per cent; magazine revenues have grown 5.7 per cent and cinema ad spend has more than doubled this financial year to $59.3 million.
“But while all the traditional media are continuing to grow their digital-related ad spend, it’s clear the biggest change of the COVID pandemic has been the further growth of the standalone Digital media with total ad spend moving to standalone digital since the FY 2019/20 period now just above $900 million,’’ Ractliffe said.
Please login with linkedin to comment
SMI DataLatest News
The Mars Agency Announces Latest Findings Of Retail Media Report Card
The Mars Agency has developed a scorecard that assesses the capabilities of leading platforms across key criteria required to optimally plan, execute, and measure effective retail media programs. The scorecard aims To help brands efficiently evaluate their spending options across retail media networks in Australia (and New Zealand). With spending on retail media advertising in […]
‘It’s The Lesser Of Two Evils’ – NRL Eyes US Betting Market As Aussie Regulators Circle
US betting firms will be delighted by the circa 50,000 Americans who could soon watch the NRL on their favourite app.
A-League In Deep Discussions With New Partner To Keep Games On TV After Production Company Enters Administration
The A-League's insatiable appetite for scoring own goals continues.
TV Ratings (27/03/2024): Jungle Members At War Over Concealed Lipstick
A heated argument between two jungle members did the numbers for Ten last night, with I’m A Celeb obtaining a total national reach of 1,282,000. Fans were delighted as Candice Warner and influencer Skye Wheatley got into it over a stick of lipstick, leading Warner to dub the Instagram star “selfish.” Wheatley, best known for […]
Is The Australian Music Industry In Trouble? Inquiry Launched Following Splendour Cancellation
Earlier this week, an inquiry was launched into the challenges and opportunities currently facing the Australian live music industry in the wake of multiple festival cancellations. On 25 March 2024, the Minister for the Arts, the Hon. Tony Burke MP, asked the Committee on Communications and the Arts to inquire into and report on the […]
Liana Dubois, Leandro Perez, Aimee Buchanan & More Gather For Inaugural Compadres Leadership Event
Didn't get the invite? Perhaps you're not as important as you thought.
Cathay Captures The Unforgettable Thrill Of Cathay/HSBC Hong Kong Rugby Sevens, Via Publicis
Nobody does rugby like Hong Kong, apparently. Certainly nobody does it as badly as Australia.
Cocogun Nabs Christine Watts, Kirsty Reynolds & Shev Tan Bolstering Management & Creative Teams
Cocogun bolsters its team with new hires. Committed to purchasing a bigger sofa, too.
The Media Store’s Jacquie Alley & Sam Cousins Take The Plunge With Pro-Bono Work For Cure Cancer
B&T chats with The Media Store bosses about their great pro-bono work and sponsored swim.
Hawke’s Brewing Co. Taps Rocket Comms For PR Agency Following Competitive Pitch
We're expecting Rocket Comms productivity to crash in spectacular fashion following this win.
Spotlight On Sponsors: Patties Serves Up A Taste Of Home For Olympians & South Sydney Rabbitohs Recommit To Gambling Reform
While the Rabbitohs commits to gambling reform, B&T reckons the team should commit to a decent auto sponsor.
Google: “Inevitable” That Bad Actors Will Abuse Ads Platform As Advertiser Account Suspensions Double
Google maintains it's simply impossible for it to entirely stop bad people placing & paying for ads using its service.
Quantcast Expands APAC Sales Team With Appointment Of News Corp Account Manager
No pressure at all when you are appointed as a client success manager.
Publicis Sapient Tests Microsoft-Powered Gen AI Search Tool With Homes & Villas By Marriott Bonvoy
Given Gen AI's record for mangling stuff, B&T cannot see the problem with letting it decide your next holiday digs.
Volkswagen & DDB Group’s “Roo Badge” To Reduce Kangaroo Related Road Collisions
Watch out for RooBadge as Cannes Lions' most debated campaign this year.
Twilio Launches Unified Profiles & Agent Copilot Features To Boost Productivity & Engagement
Agent Copilot sounds like James Bond's less interesting cousin.
Reebok & Honda Among New Clients For onetwo agency
OneTwo finally lives up to its name with this double billing.
Ogilvy Report: Throw Out The Social Strategy Rule Book, The Rules Of The Past No Longer Apply
B&T was puzzled that all 'influencers' aren't, effectively, 'virtual', but here we are.
WhiteGREY & AKQA Merge In Australia, Lee Simpson Departs
Fortunately, the combined agencies aren't opting for a trite portmanteau for the new name.
Splendour In The Grass 2024 Music Festival Cancelled!
Music fans all over the country reportedly relieved they can pack away their rain coats and gumboots for another year.
TV Ratings (26/03/2024): “Fairy Bread, F***ing Disgusting”: Gordon Ramsay Slams Aussie Food In Food Stars Launch
Ramsay not one for mincing his words, even when it comes to minced meat pies.
Paramount+ International Boss Doubles Down On Aussie Content, Says Ad-Tier will Grow Audiences And Revenue
Good news as Paramount will not be binning I’m A Celebrity for re-runs of Frasier.
Brent Smart: Telstra Pushing For 50-50 Brand-Performance Split But Warns Numbers ‘Won’t Look Great’ Initially
The old brand vs performance debate continues. But here, Brent is firmly sitting on the fence.
Crowded House, Tones And I & Dom Dolla Win Big At The Shure Rolling Stone Music Awards
B&T staffer reports back with humdinger of a hangover & feeling seriously uncool after mixing with music types.
Opinion: Dyslexia “A Hidden Gem” For Brands & Agencies
Dyslexics offer underappreciated benefits in the corporate field, according to this op-ed.
David Jones Taps Criteo To Power Online Retail Media Arm
Want to see ads for things you probably can't afford? David Jones has got you covered with new retail media play.
oOh!media Sets Up Team To Target Business Audiences Across Airports & Offices
oOh! wants brands to harass you every minute of your next business trip.
QMS Launches Australian First DOOH & TV Partnership With Samba TV
Samba TV, of course, is not a channel dedicated to dancing. Much to our dismany.
Slew Of New Hires At Amplify
Four new faces join the Amplify offices. Team say desk scarcity becoming "acute".
Adobe Announces Content Authenticity Initiative Expansions To Counter Deep Fakes
Try as they might to enlighten them, we suspect Trump supporters will continue to watch and believe Fox News.
The PR Group Appoints TechCrunch Senior Reporter Catherine Shu As Director Of Content & Media
Catherine Shu makes the bold leap from journalism to PR. Says inevitable pay bump was "unrelated".
HERO Nabs Ebony Santin From AMPR
Rumours Santin cleared out the stationery cupboard before departing are as yet unconfirmed.
Karena Noble Checks Out Of EVT Hotels & Resorts To Launch Comms Consultancy
Noble still managed to squeezed in a continental breakfast before departing.
Canva Acquires Design Platform Affinity To Bring Professional Design Tools To Every Organisation
Canva & Adobe face off continues. We're not picking sides but keenly aware that Canva's office is next door to ours.
“Lean On Our Team To Help You Find An Audience”: Why Understanding Audience Engagement Is Essential In Journalism
Engaging the audience is critical to journos, apparently. We'd thought self-loathing & alcoholism were key.
Adobe Summit: Major Gen AI Developments, Data Concessions & Partnerships
What happens in Vegas stays there. Unless it's the Adobe Summit and then you get to read about in B&T.