Media agency bookings were down by more than 5 per cent in March, largely due to last year’s federal election spike.
When compared to March in 2024, bookings were only 1.4 per cent down and March quarter demand is back just 2 per cent as extra late bookings for the February market have now turned the February total positive .
In the financial year to date, government advertising spend is down nearly $60 million.
“Apart from the election-fuelled record level of ad spend in March last year, our market is plagued by the ongoing global geopolitical uncertainty which is in turn impacting consumer confidence and therefore advertising budgets,” Guideline SMI APAC managing director Jane Ractliffe said.
“Late bookings are trickling in but we ’re yet to see the confidence among enough brands who are willing to commit to their ad campaigns earlier and this makes it harder for media to plan and manage their budgets.’’
On a stand alone basis (ad spend that’s not tied to traditional media content), Digital bookings are back 6.2 per cent with late programmatic and search bookings still to come.
The month and quarter is notable as being the first period that social media bookings overtook search.
Search is now third in the digital ad spend pecking order behind social and programmatic.
Video sites and streamers account for more than 10 per cent of all digital ad spend, growing by 16 per cent year on year in March.
“There’s some significant changes now occurring in our Digital media as Search was historically the largest Digital sector by way of agency spend but is now third after Programmatic and Social Media. And given the growth trajectory of Social it may soon deliver larger ad spend than the whole Programmatic market,’’ Ractliffe said.
Streaming bookings helped offset a 10.1 per cent fall in linear TV ad spend, while radio bookings were back 6.4 per cent although Metropolitan radio’s decline reduced to 3.2 per cent.
Outdoor was up 1.4 per cent, while regional press was a bright spot for print, up 38.3 per cent as ad revenue in the broader press market fell 4.6 per cent.
This month, the Northern Daily Leader, which covers Tamworth, New England and NSW’s north west, is closing its daily weekday newspaper and to shit to an online news outlet.
