Bloggers and commercial websites are raking in the money as Australia once again performed really well this financial year in the online marketing business. Online advertising up 18.5% as traditional media struggles
Online advertising market has recorded a tremendous growth of 18.5% during 2008 / 2009. According to the data from the Interactive Advertising Bureau of Australia. Online advertising spending exceeded $1.8 billion during the 2008-09 financial year. Search and directories accounted for 49% of total advertising expenditure, with general display accounting for 27% and classifieds 24%.
Search and directories grew by 25%, general display grew 19.6% and classifieds by 6%. Finance, computers and communications and motor vehicles were the most dominant sections using general display advertising, and account for 45.5% of general display spend.
The largest subcategory was motor vehicles – manufacturers, and comprised 9.8% of general display spending for the second quarter of 2009. The figures send the message that online is the safest form of advertising during the downturn. "I think the anecdotal evidence tells us a lot of advertisers have seen online as the safest option. While we know marketing and advertising budgets have been cut, and they have also been cut for online spending, a lot of advertisers have maintained their online presence."
The number one reason online advertising is good is because that’s where consumers are spending more of their time, and advertising is all about engaging those consumers. Secondly, you can engage those users in different ways, interact with them, you can build communities, you can follow what they’re talking about, and so on.
Pricewater Coopers annual Australian Entertainment and Media Outlook paper suggests the advertising industry will see just 3.8% annual growth each year until 2013, with consumer spending only growing by 1.7%, well down from its usual average of 5.5%.
Additionally the web-enabled mobile phone is leading the charge as a primary distribution platform for the entertainment and media of the future.Entertainment and media advertising spending growth will continue to increase, as new technological developments such as high-speed broadband and internet-enabled smart phones like Iphone and Pda’s provide more access to advertising.
Other traditional forms of advertising including free-to-air television, radio and magazines will stall or decline over the next four years, while paid television, interactive games and the film industry will be the areas in which to invest.