Australia Advertising Expenditure Forecast 2024

Total advertising expenditure will grow at a 3.7% CAGR over the next five years, stabilising after pandemic disruption.

David Kennedy · Venture Insights17 October 2024Period: FY24-FY298 min read

3.7%↑

Total Advertising Market CAGR (FY24-FY29)

8.8%↑

Out-of-Home (OOH) Advertising CAGR (FY24-FY29)

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Abstract

This report forecasts total Australian advertising spending from FY24 to FY29, predicting a 3.7% compound annual growth rate (CAGR) to reach $26.2 billion. Despite a decline in FY24, spending remains 32% higher than pre-pandemic levels. The analysis covers video, audio, physical print, out-of-home (OOH), cinema, and digital sectors, highlighting a shift in budget shares as Digital and OOH outperform traditional media like television and print.

Key Takeaways

Total Australian advertising expenditure is forecast to reach $26.2 billion by FY29, growing at a 3.7% CAGR.
Out-of-Home (OOH) will lead market growth at 8.8% CAGR, driven by increased digitalisation and programmatic sales.
Digital advertising remains the largest segment, forecast to grow at 4.3% CAGR to reach $18.5 billion by FY29.

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Frequently Asked Questions

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.

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.

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.

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

Abstract

Key Takeaways

Frequently Asked Questions

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