Australia Advertising Expenditure Forecast 2024

Total ad spend to grow at 3.7% CAGR through FY29, driven by digital maturity and 8.8% annual growth in Out-Of-Home.

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

Last updated 6 May 2026

3.7%↑

Total Advertising Expenditure 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. While the market faced a decline in FY24, spending remains 32% higher than pre-pandemic levels. The analysis highlights a shift in budget shares, with Out-Of-Home (OOH) leading growth at 8.8% CAGR and digital advertising growing at 4.3% CAGR, while traditional broadcast media faces structural stabilization through digital offsets like BVOD.

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 be the fastest-growing sector at 8.8% CAGR, driven by digitalization and retail advertising.
Digital advertising remains the dominant segment, projected to grow 4.3% CAGR to $18.5 billion by FY29.

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Frequently Asked Questions

The market has moved significantly beyond recovery, with FY24 spending sitting 32% higher than pre-pandemic FY19 levels. 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 primary growth leader with an 8.8% CAGR, driven by a transition where digital is expected to capture 75% of total OOH revenue by FY29. Digital advertising more broadly will remain the dominant segment, reaching $18.5 billion by the end of the forecast period.

Broadcasters are successfully utilizing Broadcaster Video on Demand (BVOD) as a structural hedge, with the sub-sector growing at an 18.2% CAGR. This rapid digital expansion is critical to offsetting legacy declines and maintaining a foothold in the total $26.2 billion market.

Online audio is emerging as a high-performance sub-sector, projected to grow at an 8.9% CAGR to reach $199 million by FY29. This growth rate significantly outpaces the broader digital segment's 4.3% CAGR, indicating a shift in budget toward digital-first audio formats.

Abstract

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 be the fastest-growing sector at 8.8% CAGR, driven by digitalization and retail advertising.

Digital advertising remains the dominant segment, projected to grow 4.3% CAGR to $18.5 billion by FY29.

Frequently Asked Questions

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