Outdoor media continues to build on last year’s record growth, grabbing a bigger piece of the advertising revenue pie on the back of an extra $18m in spending from the finance sector.
Figures from the Outdoor Media Association’s annual report, derived from Commercial Economic Advisory Service of Australia (CEASA) research, show out-of-home media increase its share of the $11.4bn advertising spending to 4.8 per cent in 2013 from 4.6 per cent in 2012, a rise of 4.17 per cent.
This comes after the peak body announced the sector had grown a record 7.1 per cent in 2013 and posted growth in every quarter year on year, then followed it up with 1.75 per cent in the first quarter this year.
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The industry’s best friend last year was HSBC, the world’s second largest bank, which almost tripled its Australian outdoor advertising spend from $6.6m to $18.4m, according to Nielsen research.
Along with ANZ’s 26 per cent spending increase, this made the finance sector the largest advertiser with $61.3m, up 29 per cent over last year as retail eased 6.3 per cent into second place with $59.3m.
The media industry was another big mover, jumping 21.1 per cent to $38.1m, and entertainment and leisure was up 10.5 per cent to $52.3m. The government was of course down 16 per cent to $24.5m as it followed its strategy of reducing its print ad spend.
Other companies making big changes to their outdoor budgets included Foxtel, up 131 per cent to $9m; Apple Computers, up 142 per cent to $8.2m, News Corp, up 38 per cent to $8.3m, while Coca Cola dropped down by 34 per cent to $7m.
NSW and Victorian governments again outspent the Commonwealth, NSW holding steady as the third biggest advertiser with $14m, VIC dropping 13 per cent to $8.2m and Queensland disappearing from the top 20 altogether after holding twelfth spot with $7m in 2012.
[Related: More finaicial reports]
Outdoor media also scored well for customer satisfaction, rated second to digital in delivering the most creative and innovative proposals; tied for second behind magazines as the most frequent visitor to agencies; and rated first for the most service orientated medium for the second year in a row, according to the Media-I Industry Survey.
A second survey of those working within the outdoor media industry found they are ‘notably more optimistic and positive about the industry overall as well as feeling valued and enjoying the culture’, scoring best in all but one category.
Out-of-home media seems to have cannibalised some of newspaper’s advertising revenue, it fell to a 16.3 per cent share in 2013 from 18.9 per cent in 2012 and 22.1 per cent in 2011, according to CEASA.
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