The Government's newly released National Innovation and Science Agenda shows that for economic growth to continue within Australia, an 'innovation ecosystem' must be fostered, where new businesses with new ideas are encouraged to grow and flourish. With every company wanting to increase, retain or improve their customers’ experiences, this makes marketing vital to fuelling Australia's ideas boom.
A new report produced by ZenithOptimedia forecasts that global advertising spending will hit US$503 billion by the end of 2013 – growth of 3.5 per cent. This spend will increase by 5.1 per cent in 2014 and 5.9 per cent in 2015, the agency has predicted.
Growth in Internet-based advertising remains the standout: Between 2013 and 2015, ZenithOptimedia predicting growth of 16.4 per cent, with the social media and online video segments growing at 33 per cent and 25 per cent, respectively.
Ad delivery via mobile "has now truly taken off and is growing seven times faster than desktop Internet", the report states.
"We estimate global expenditure on mobile advertising at US$8.3bn in 2012, representing 9.5% of internet expenditure and 1.7 % of advertising across all media. By 2015 we forecast this total to rise to US$33.1bn, which will be 25.2% of internet expenditure and 6.0% of all expenditure."