Australia’s online ad revenue for Q2 2020, covering April to June, dropped by 12%, a sign of how COVID-19 is affecting marketing spending in the country.
The latest IAB Australia Online Advertising Expenditure report was recently published with cooperation with PwC, and showed how the industry was faring for Q2 2020 in the wake of COVID-19. For those invested in ads, king kong marketing agency review and the like, Q2 2020 was unsurprisingly rough, with all categories dropping win comparison to 2019 figures, with classifieds being hit the hardest; recording a 22.7% drop.
Australia’s online advertising market accounted for $2.03bn in expenditures for Q2. While the quarter wasn’t the best, the total for the first half of 2020 sits at $9.1bn, which is still a 1% increase from the same time frame in 2019.
Mobile advertising accounted for the largest chunk of all online advertising in the AU, with expenditure in that sector going up by 6% from 2019 to a total of $4.9bn, 54% of the total. General display managed to maintain its share with a total of $3.4bn for the first half of 2020. Meanwhile, the video became an outlier, recording a whopping 15.4% increase, with a total of $1.7bn in expenditures.
IAB CEO Gail Le Roy stated that they weren’t surprised that April-June recorded drops all over, as the quarter was rough due to the AU bushfires and COVID-19. Anyone who works in advertising and deals with king kong marketing agency review and the like could tell.
However, they noted that video has proven itself to be quite resilient, with consistent year-on-year growth.