Hickey also spoke about how influencer advertising is taking over traditional formats
The overall forecast revealed traditional media is resilient through economic uncertainty but that social media stalled
The industry reached $3.455 billion, an increase of 6.5% in 2021
The joint study revealed that 15.3% of their advertising spend is wasted on inventory that generates no value
The new report also found the industry is responsible for supporting over 450,000 jobs
Of the CMOs interviewed globally, over 2 in 5 (45%) are financially preparing for tough times ahead
Advertisers increased their media investment in September, with total ad spend growing 6.6% to $774.9 million
•Digital ad waste sits at 40 per cent of audited spend
• Optus dropped ad spend from almost $55,000 on 21 September to under $5,000 on 22 September
• The new data also highlights modest growth of 10.6% in the June quarter
• Pippa Leary: "The smart players are looking at FY23"
• Clive Palmer’s Group of Companies came in at number six on the list
• Menulog took the top spot, spending more than $23million
• The most digital ad spend wasted in Q2 was on Google at $38 million
• In Australia, the market is forecasted to hit 6.7% year-on-year growth
Ad demand lifts 2.8% in March, Digital Audio and Cinema big growers
There’s a bit to cover in these insights we share – so grab the popcorn and settle in
Digital ad share climbs, ecommerce and online video fuel growth, TV ad cost rises
