The Australian online advertising market powered ahead last year, posting year-on-year revenue growth of 21% to $2.3 billion.
The report, which is produced by Pricewaterhouse Coopers (PWC) for the Interactive Advertising Bureau, found that revenue increased by $393.25 million, with all the main categories posting a double-digit rise.
Display advertising grew 22% to $605.25 million; search and
directories rose 19% to $1.13 billion, and classifieds climbed 24% to $531
million.
In the fourth quarter of last year, online advertising expenditure totalled $627.75 million, a 22% increase and the biggest quarterly rise reported by the IAB to date.
IAB chief executive Paul Fisher said the market is on track to break the $3 billion barrier by the end of 2012, with PWC forecasting growth of 15.5% in 2011 and 14.3% in 2012.
"We are experiencing a structural shift in Australia and globally in
the advertising and marketing industry as advertisers and agencies
restructure their organisations and their budgets to better equip
themselves to reach, engage and influence their customers online," he said.
However, a recent AdNews exclusive revealed the Australian online display market started the year with a whimper as the market crashed and the major online portals experienced a sharp decrease in demand.
The IAB is currently searching for an organisation to develop a new online measurement system.
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