Magna Global ranks Australia as one of the world’s “most advanced advertising economies”

Australian Radio out performs other traditional media

In its latest report on the global advertising marketplace, covering 73 countries, MAGNA GLOBAL estimates that media owner advertising revenues grew by +3.2% in 2015 to $503 billion. This is lower than the previous forecast (+3.9% in June 2015) and represents a slowdown compared to the 2014 growth (+4.9%).

But in the Asia Pacific region, where China is by far the biggest and fastest growing ad market, Australia is listed as third largest.

The report states: Australia, the third largest APAC advertising economy, grew by +3.4% in 2015 to $12bn. This was up from 2014’s 0.7% growth rate and 2013’s 0.9% growth rate. This growth was driven both by television recovering to flat vs. 2014’s -1.7% rate, but also by increases in the growth rate of radio and OOH. Australia is one of the most advanced advertising economies, with ad spend per capita just under $500, one of the highest figures globally. In addition, digital spend represents nearly 40% of total ad budgets. Unlike the US, where digital has not yet passed television as the largest ad spend format, in Australia digital became the largest part of ad budgets in 2013.

For the full report, go here.

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