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SMI: Film, Outdoor, Retail and Automotive Brands Drive Continued Ad Spend Growth in Australia

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%.

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