Outdoor advertising up 16% as other forms continue to fall

Nathan Jolly

November 1, 2024 4:30

Outdoor advertising up 16% as other forms continue to fall

Outdoor advertising was up 15.8% year-on-year to take its total market share to a record level of 16%.

Guideline SMI APAC managing director Jane Ractliffe said every outdoor sector reported double digit growth in ad revenues for the month of September.

“It’s clear many product categories are moving their media investments from both Digital and Television to Outdoor as we’re seeing large category share swings,” Ractliffe said in a statement on Friday.

“For example, the Food category has grown its outdoor investment by 46% this month while the Banking category has lifted its Outdoor spend by 46.2%. It’s also evident in the in-home entertainment category, as the streamers have typically allocated more than 70% of their ad budgets to TV and digital, but this month outdoor’s share of TV streaming ad spend has grown to 34% from 18% in September 2023.’’

Among the other media, digital ad spend was up 0.3% overall, cinema declined 1% and both video and audio (linear plus digtal) dropped 6.4% and 2.6% respectively.

“The reality is that the market remains very short, so we’ve continued to receive extra late bookings for previous months and that’s resulted in total spend over the nine months being back by less than $10 million in a $6 billion-plus market,” Ractliffe said.

“And with the momentum now evident in key parts of the Australian ad market, we remain confident that we’ll be reporting advertising market growth for the full 2024 calendar year.’”