Bank spending down 14 per cent while automotive up 15.8 per cent according to SMI

June 29, 2015 1:42

Paid media spend for both domestic banks and financial services is down year-on-year 14 per cent and 10.1 per cent respectively, new data has revealed.

The finding is one a number of insights from new category breakdowns for both the finance and automotive sectors in the Standard Media Index (SMI) monthly report which shows paid media spending by the major local banks fell from $127.1m in Jan-May 2014 to $109.4m in the same period in 2015.

Among the biggest declines was bank metro TV spend which fell $7.7m to $20.8m, a decline of 27.2 per cent.

“We believe the 14 per cent decline in ad spend by domestic banks reflects a proportionally lower level of large branding campaigns by our banks so far this year, when they were very much a feature of last year’s media landscape,” said Jane Schulze, managing director of SMI.

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Nic Christensen

Nic Christensen worked for Mumbrella from 2013 to 2016, in roles including deputy editor and media & technology editor. He is former media writer for The Australian and has also worked as a reporter for The Daily Telegraph and senior producer for Radio 2GB.

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