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Australia: Online Advertising continues to achieve strong year on year growth
The Australian online advertising market continues to record strong growth with online advertising expenditure for the March quarter 2010 growing by an impressive 17 per cent year on year, according to data released today by IAB Australia in its Online Advertising Expenditure Report (OAER) compiled by PricewaterhouseCoopers (PwC). Online expenditure for the first three months of 2010 totalled $512.5 million, unchanged from the fourth quarter 2009.
Classifieds and search and directories delivered significant growth in comparison with the prior quarter, however, this was balanced by a reduction in the general display market, reflecting the usual seasonality of the first quarter of each calendar year. Importantly, the decline was less than the historical average, indicating the strength of the general display market.
Commenting on the Report, Paul Fisher, CEO of IAB Australia, said the year on year increase in online advertising expenditure reflects marketers’ increasing confidence in the medium and supports anecdotal evidence that brands are rapidly shifting marketing budget to online advertising.
“Less than two years ago, many advertisers were asking ‘why should I advertise online?’. Today, the question we hear most is ‘how or where should I advertise online?’. Driven by increasing consumer engagement with online content and advertising, this fundamental shift across the marketing and advertising industry underpins the continued double digit growth in online advertising expenditure.
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