Question 1

Is the Australian advertising market actually growing or just recovering from the pandemic?

Accepted Answer

The market has moved well beyond recovery, with FY24 spending levels sitting 32% higher than pre-pandemic FY19 benchmarks. Total expenditure is forecast to reach $26.2 billion by FY29, sustained by a 3.7% compound annual growth rate.

Question 2

Which specific media channels offer the strongest growth prospects over the next five years?

Accepted Answer

Out-of-Home (OOH) is the clear growth leader with an 8.8% CAGR, driven by programmatic sales and aggressive digitalisation. Digital advertising remains the largest absolute contributor, forecast to grow at 4.3% CAGR to reach $18.5 billion by FY29.

Question 3

How is the shift from traditional TV to streaming impacting total video revenue?

Accepted Answer

Rapid 18.2% growth in BVOD revenue is currently offsetting a 3.0% annual decline in traditional broadcast revenue. This transition results in a stagnant 0.6% CAGR for the total television segment, necessitating a strategic pivot toward digital video platforms.

Question 4

What is the outlook for mobile-specific advertising within the digital mix?

Accepted Answer

Mobile-based digital advertising will grow at 7.2% CAGR through FY29, significantly outperforming the broader digital market. This growth will see mobile increase its total share of the digital advertising pie from 42% to 49% by the end of the forecast period.

Australia Advertising Expenditure Forecast 2024

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Frequently Asked Questions

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