Brand News: Online Adverting Increases by 9.7% in Australia

Unlock the secrets of the booming internet advertising landscape with insights that could redefine your marketing strategy. With video advertising surging by 18.6% and digital audio not far behind with a 23.6% increase, it's clear that traditional display formats are losing their luster. Discover why video content across platforms like YouTube, TikTok, and LinkedIn is now a must-have element for brands aiming to capture attention and engagement. We'll also unravel how the evolving dynamics of search advertising, despite higher costs, continue to draw significant investment.

Join us as we dissect the PwC report's revelations and what they mean for your advertising budget. We delve into the impressive role connected TVs play in the video advertising boom and contemplate whether digital audio is the next frontier for untapped opportunities. With firsthand insights from our ad accounts and clients, we discuss why brands are reallocating resources to more interactive and measurable campaigns. Don't miss this chance to learn how to maximize your brand's outreach with innovative video and audio strategies.

The Digital Horizons Podcast is hosted by:

James Walker - Managing Director WHD
Brian Hastings - Managing Director Nous

Episode Transcript

Speaker 1 (00:09):
Welcome back to Brand News Today.
The article that we're lookingover is internet advertising
spend reaches $15.6 billion,with a growth rate of 9.7%.
This is a report that's beenreleased by PwC in September.
It's for the period ending inJune 30.
And I mean 9.7% is a prettystrong increased year on year
for advertising spend, but thishas been largely driven by video

(00:31):
advertising, which is up 18.6%,and followed by search, which
is up 10.4%.

Speaker 2 (00:36):
Yeah, Exciting figures there and kind of ties
in with what the updates havebeen talking about.
With YouTube and video display.
They seem to be killing it atthe moment.

Speaker 1 (00:45):
It really is taking charge, isn't it?
Such a massive growth, 18.6%year on year, for video
advertising, and I mean we'reseeing it within our ad accounts
and all the clients that we'reworking with.
We're just more and morespending on video content, yeah,
and whether that's in Meta orif it's in TikTok, if it's on
YouTube, even LinkedIn we're nowstarting to focus more and more

(01:08):
on the video side of things,and I feel that brands just need
to get involved.

Speaker 2 (01:10):
Yeah, I think there's a lot of rumors or murmurs that
search is declining.
It isn't.
It's 10.4% up in the Australianmarket.

Speaker 1 (01:14):
I think that it's because the cost per clicks are
fucking increasing so much thatyou have to yeah, yeah, the
spend is going up.
Google's profits are increasingfrom these clicks, and so
people have to spend 10% morejust to be able to maintain the
positions and search rankings.

Speaker 2 (01:27):
Yeah, absolutely Interesting, though in the
article it shows some of thelosers in the internet format
space standard display formats.
So we're talking mediumrectangles, banner advertising,
animated banners.
Let's say it fell 13.1% sowhile video grew, I think it
cannibalized or it took a lot ofthat market from the

(01:48):
traditional display ads.

Speaker 1 (01:49):
I feel that this is also like what we're talking
about I think it was last weekabout the focus on bottom of the
funnel campaigns right Likeyour display campaigns, known
for not high conversion rates.
It's hard to measure, it's goodfor branding and it's good for
getting your name out there, butin terms of actual measurable
results, it's a challenging one.
So I feel that's why we'reseeing this shift.

Speaker 2 (02:08):
Yeah, absolutely.
It's kind of being relegated tothe retargeting only in a lot
of cases and the bulk of ourbudgets for that brand outreach
trying to introduce to newcustomers is being spent on
video.

Speaker 1 (02:20):
It is, but it's so cheap to reach people.
Look, I run a cost per viewcampaigns of hitting three cents
a view sort of thing.

Speaker 2 (02:32):
Imagine the impact that has versus your CPC display
campaign, which is going to beforgotten very quickly.
We did cover in socialplatforms the other week that it
is still worthwhile having astatic or carousel ad to follow
a video ad that someone's seen,because they can still get good
click-through rates in thesocial format.
One other point to note in thisarticle is digital audio
performed strongly over the year, increasing 23.6% in terms of

(02:54):
media spend in Australia.
We already covered off inanother brand news that the
listenership increaseddramatically and it's obvious
that that's performance is beingreflected in how much people
advertisers are spending on theplatform.
So that's the big winners videosearch and audio advertising
digitally.
Also, within that video growth,the lion's share of it has been

(03:16):
on connected TVs.
So YouTube and display andcatch up TV on your main lounge
room.

Speaker 1 (03:22):
TV.
We've got to start triallingsome of this audio advertising.
It's a space I haven't reallygot into so far, so maybe might
even give it a go foradvertising this channel and
just see how it performs interms of cost for reach and
whatever other metrics you wantto try and measure it by.
But it might be a goodopportunity to test some of that
out.