The Australian Online Advertising Market Spend Reached a New High With an Impressive $14.2 Billion in 2022: IAB Australia

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A report from PwC Australia recently revealed that the Australian online advertising industry had reached a staggering $14.2 billion in expenditure by the end of 2022. 

The total amount of money spent on marketing and advertising rose an impressive 9.1% year-over-year, although this growth rate was a notable decrease from the incredible 36% recorded in 2021.

Compared to the previous year’s figures, all categories experienced growth. The public display had an impressive 7.7% ($5.5 billion) upsurge. Search and directories saw an 8.5% jump in numbers of $6.2 billion, while classifieds marked a 14% rise at $2.5 billion.

Video advertising saw a dramatic rise of 12%, accumulating an impressive $3.3 billion worth of sales.

The Report featured digital audio data for the first time due to a joint venture between IAB and Commercial Radio & Audio. By cooperating, they unlocked new insights into understanding digital audio’s capability to drive advertisers’ business results.

In 2022, digital audio ad expenditure increased to a record-breaking $221.2 million, with streaming capturing 63% of the total budget and podcasting claiming 37%.

Gai Le Roy, Chief Executive Officer of IAB Australia, expressed that “2022 had two distinct growth phases, with 15% for the first six months compared to 2021 and 4% growth in the second half of the year. Despite this slowdown, we are seeing encouraging signs, including automotive advertiser’s share of display advertising returning to levels not seen since early 2021.

The most popular five advertiser categories in general display advertising stayed the same yearly. Retail, automotive, and FMCG all experienced no significant changes, while entertainment’s share increased ever so slightly, and finance saw a slight decrease in its market share.

Digital audio is a flourishing sector that has seen tremendous expansion in listener numbers and advertiser interest, making it one of the quickest-growing industries in Australian media. In fact, according to IAB data, digital audio’s market value skyrocketed from nothing to over $220 million within a brief time span – showcasing its remarkable growth potential.” Ford Ennals, Chief Executive Officer of CRA, commented on introducing digital audio data in the OAER.

Content publishers experienced substantial growth in their inventory sales through agency insertion orders – jumping from 42% in 2021 to an impressive 44% this year. Even more remarkable, programmatic guaranteed deals saw a 2% rise over the same period, with video investment directly contributing to that increase.

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