We’re living in an age of unprecedented change. We experience with Oculus Rift, invest with Acorns, consume video through Hyper, tune into Pandora and navigate with Waze.
A new report from the Commercial Economic Advisory Service of Australia (CEASA) revealed the Australian digital advertising market was worth $2.3 billion or 37 per cent of the total $6.2 billion advertising spend in the first half 2014.
The report also found free-to-air (FTA) TV spend was at 27 per cent, which remained the same from the prevoius six months.
For the full 2014 financial year, digital took 34 per cent of the advertising market share, rising from 30 per cent in FY2013.
The Interactive Advertising Bureau (IAB) also offered some insight into the market, and is seeing continued growth in digital marketing.
“Mobile advertising is now outperforming both the magazine and outdoor advertising sectors, while video advertising is already more than double the total cinema ad market,” Interactive Advertising Bureau CEO, Alice Manners, said in a statement.
"Indeed current growth projections suggest that video advertising spend will reach almost half the pay TV ad market for this calendar year.
"As the market changes and agencies and marketers continue to tweak their budgets to get the best return on their investment and follow people’s media consumption habits, I wouldn’t be surprised to see digital representing $4 out of every $10 spent in the market for this calendar year."
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