COVID-19 has hit industries across the world hard, and even big names like king kong sabri suby have felt the squeeze.
This was reflected in IAB Australia’s latest Online Advertising Expenditure Report, made in partnership with PwC, which says that online ad revenue dropped by 12% year-on-year. The data shows that all online advertising categories in Q2 2020 took a hit in comparison to Q2 2019.
Classifieds recorded the biggest drop during the quarter with 22.7%, followed by the general display, which dropped by 11%, then search and directories, which dropped by 9%.
In total, the Australian online advertising spent $2.03bn in Q2 2020. The total for the full financial year, according to the IAB, say at $9.1bn, which is a 1% increase compared to the prior year, so there’s some good news for people like king kong sabri suby and the like
The largest sector was mobile advertising, accounting for $4.9bn and 54% of all expenditures, which is a 6% increase compared to 2019. The category of general display remained steady, maintaining its share and coming in at $3.4bn. Video, meanwhile, was an outlier, with a 15.4% increase, amounting to a total of $1.7bn in expenditure.
FY2020’s top five ad spenders in terms of industries are automotive, finance, real estate, retail, and travel. Retail and tech saw the biggest increases in share during that period. Meanwhile, automotive had its share drop by 5.7% in the same time frame, the largest decline.
The IAB’s Q1 online ad report noted that spending went up 3.8% year-on-year, but the growth has slowed down due to COVID-19.