Media agency spend set to pass $8bn mark by end of year with outdoor leading growth

The signs of growth in the Australian ad market are strong, with the latest media agency spend figures showing the ad market is set to exceed $8bn in media agency spend this calendar year.

According to the latest figures from Standard Media Index, November bookings were strong up 4.9 per cent on last year with some $824.1m in bookings going into December.

The result came in a month when outdoor again led growth with a 36 per cent year on year spike, as TV spend remained relatively stable with Seven narrowly beating rival Nine in revenue with 39.1 per cent compared with 38.9 per cent respectively.

Ten slipped back on its previous month’s performance in November in the absence of big franchises like The Bachelorette and Masterchef recording 22 per cent of revenue. Overall television spend was stable at $359.5m while spending on outdoor surged from $90.2m last year to $122.7m this year, as digitisation continues to boost the medium.