The IAB is heralding still more boom times for digital advertising, pointing to figures released by the Commercial Economic Advisory Service of Australia earlier this week.
The CEASA report released earlier this week suggested digital advertising's share of the total Australian ad market for the first six months of 2014 was sitting at about 37% of the $6.2 billion total. IAB CEO Alice Manners thinks it can top out the year at 40%.
By comparison, TV advertising remained stable with a 27% share.
Digital advertising accounted for 34% of all advertising in the 2014 financial year according to CEASA's figures, up from 30% in 2013.
Mobile advertising, is also outperforming both the magazine and outdoor advertising segments, while video advertising is now double the size of the cinema market.
"Current growth projections suggest that video advertising spend will reach almost half the pay TV ad market for this calendar year," said IAB chief executive Alice Manners.
The bullish sentiment is backed by a report from PriceWaterhouseCoopers released late last month, which outlined growth in the video advertising market of 76% over FY2014.
“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," Manners said.
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