Australia’s combined online advertising spend soared to $2.45 billion in the 2011 / 2012 financial year, growing by $412 million, a comprehensive March 2012 ‘Online Advertising Expenditure Report’ compiled by PricewaterhouseCoopers for the Advertising Bureau of Australia (IAB) revealed.
Online search and online directories, when combined with online classifieds, achieved a 23 per cent growth to record a total spend of $1.26 billion and $579 million respectively. Online display advertising in Australia also recorded a 12 per cent growth to reach $612 million.
“Growth in search has outstripped the growth in directories, and what I would say is that the majority of that growth comes from the migration of businesses into (online) search”, said IAB Chief Executive, Paul Fisher.
Online video advertising also posted particularly impressive growth in 2011 / 2012, with the market growing 53 per cent to reach almost $40 million a year.
In the US, video represents 14 per cent of online display advertising (remember what I said about using LOTS OF VIDEO CONTENT on your website and web 2.0 sites), but in Australia the number is considerably less. However Mr. Fisher estimates the Australian video advertising market is still on track to reach $200 million by 2014 based on “Continuing strong demand” by advertisers.
“There is real potential in video,” said Mr. Fisher. “With today’s targeting capabilities such as geographic, demographic, time of day and of course online behavioural targeting, there are great opportunities for video advertising to grow exponentially”, he said.
PricewaterhouseCoopers’s report projects that Australia’s overall online advertising market will grow to $3 billion per annum by 2013.
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