Australia recorded its 21st According to the latest Standard Media Index (SMI figures), ad spend grew for the first month in a row in October.
According to the latest report, total ad demand will grow 4.1% in October 2022, just $3.9 million below the record set in October 2017.
From a category perspective, this result was driven by a 10% year-over-year increase in advertising spend in the retail category and a 29% increase in advertising for automotive brands compared to 12 months ago. More is expected, as noted by SMI, as the automotive category remains 25% below the peak recorded in October 2018.
Additionally, SMI broke October records in the insurance, telecommunications, apparel/fashion accessories, travel, wealth management, education and technology product categories. Advertisers also appear to be returning to outdoor and cinema channels in October. For example, outdoor spending increased 51% year-over-year to over $100 million, and movies more than doubled for him in October.
On the back of this consistent continuous growth, SMI reported a 4.9% increase in advertising spending this fiscal year, reaching a record level. In the calendar year, total advertising spend reached another record level, he increased by 8.8%.
Jane Ractliffe, managing director of SMI A/NZ, said the impressive momentum is expected to continue into November, with ad spend already paid for 86.8% of last November’s total, excluding digital. Shows forward pacing data indicating that
“Our continued confidence in the ad market is very much highlighted by the fact that these forward pacing are very strong as the market achieved record levels of ad spend in November 2021. It’s November,” she said.
“We can already see that ad spend equivalent to 98% of movie theater bookings last November was confirmed. Confirmed.”
Ractliffe said TV and digital media also showed normalization, with TV bookings rebounding 0.4% and digital growing only 1.5%.
“Despite media achieving 51% year-over-year growth in October, total out-of-home spending is still 15% below what was recorded in October, suggesting that out-of-home spending is “normal.” ” level, so this trend is likely to continue. October 2017,” she commented.
“It is clear that the demand for advertising seen in the Australian market today is widespread and reflects the strong economy and confidence in the market.”
Finally, Ractliffe said, SMI never reported advertising spending above $3 billion in the first four months of a fiscal year, and more than $7 billion in advertising spending in the first 10 months of a calendar year. I said no.
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