Online advertising spend increased 9.3% year-on-year to reach a total of $3.746 billion for the quarter ending 31 March 2024, despite a 4.
2% softening in spend from the preceding quarter. The IAB Australia Online Advertising Expenditure Report (OAER), prepared by PwC Australia, noted that compared to the quarter ending March 2023, search and directories experienced 9.3% year-on-year growth, reaching $1.
724 billion. General display advertising reported a 14.8% increase to $1.
41 billion driven by social, audio and video, while classifieds expenditure dropped 1.8% year on year to $612 million. Video and audio advertising both delivered double-digit growth year-on-year, with video expenditure increasing 21% to reach $944.
9 million and audio expenditure increasing 26% to reach $65.6 million. Standard display – a subset of general display for traditional display banner formats – dropped back 6% and now represents just 9% of the general display market.
Gai Le Roy, CEO of IAB Australia , said: “Search, social video, and audio have been the star performers, helping bolster the traditionally slower first quarter results. The report suggests that many marketers are focused on short term sales targets with the continued economic downturn and lack of consumer confidence. “However, it is encouraging to see continued investment in digital advertising, and we encourage marketers, where possible, to ensure that they are diversifying their investment to take advantage of the media mult.