Australia’s marketers to spend $706m on social channels by 2019, research claims

Australia’s marketers will increase their spending on social media advertising by 24 per cent each year over the next five years, taking total spend in 2019 to $706 million, claims a new report.

The increase is slightly ahead of the Asia Pacific growth rate of 21.6 per cent, according to research firm Forrester which said the pace of growth across the region was slower than expected.

The figures were revealed in a social media advertising spending forecast covering Australia, China, India, Japan and South Korea. Forrester found Australian marketers will spend $241m on social channels in 2014, rising to $322m next year, $410m in 2016, $502m in 2017, $601m in 2018 and $706m in 2019.

Collectively, the five APAC nations will spend $2.17 billion on social marketing this year, rising to $5.8b by 2019, with India seeing the fastest annual compound growth rate of 51.5 per cent to $1b.