Christopher Hughes
Research expert covering Australia and New Zealand
Digital advertising is experiencing growth across most sectors in both spending and revenues globally. Worldwide advertising spending is estimated to reach well in excess of 500 billion U.S. dollars by 2024, with the United States as the leading regional market by a clear margin.
In the Asia Pacific region, digital advertising accounts for a significant share of total media advertising spend, and forecasts predict that the digital advertising spend in the region will pass one hundred billion U.S. dollars in 2022 and will continue to grow in the following years. Most of this expenditure is, inevitably, spent on internet-based advertising. This, too, is predicted to exceed a hundred billion U.S. dollars in 2022.
Around 40 percent of brands, the largest share, said they spent less than 10 thousand Australian dollars on influencer marketing. It’s worth noting, however, that just 40 percent of brands said they offered influencer partners monetary compensation, with the rest offering free products, discounts, or something to give away to followers.
In the Asia Pacific region, digital advertising accounts for a significant share of total media advertising spend, and forecasts predict that the digital advertising spend in the region will pass one hundred billion U.S. dollars in 2022 and will continue to grow in the following years. Most of this expenditure is, inevitably, spent on internet-based advertising. This, too, is predicted to exceed a hundred billion U.S. dollars in 2022.
The Australian market
The Australian retail industry was the leading spender on advertising by a significant margin, spending over a billion Australian dollars on advertising. This was more than double the ad spend of the communications industry, the next largest spending industry. The country’s two most valuable brands were from these industries, retail giant Woolworths and communications provider Telstra, which were worth nine and 6.83 billion U.S. dollars respectively.The rise of influencer marketing
In line with global trends, the use of social media influencers by brands for marketing has seen an exponential rise in Australia in recent years. The market is estimated to be worth over 20 billion Australian dollars currently. In 2016, the market was worth just 1.7 billion Australian dollars, rising to around 16 billion in 2022, demonstrating rapid, significant growth.Around 40 percent of brands, the largest share, said they spent less than 10 thousand Australian dollars on influencer marketing. It’s worth noting, however, that just 40 percent of brands said they offered influencer partners monetary compensation, with the rest offering free products, discounts, or something to give away to followers.
