Australia’s print, TV ad markets continue decline as digital, cinema grow: Magna Global forecast

Australia’s print and television advertising markets are set to continue their declines in 2023, while digital and cinema spending will continue to grow, according to research from Magna Global.

Print and television advertising spending is forecast to decline by 13% and 12%, respectively, while digital ad spending will grow 8% to $20.5 billion. Also seeing growth are cinema at 15% and out of home at 5%.

Magna Australia MD Lucy Formosa Morgan