These excerpts from the IAB NZ Q3 press release this morning:
All categories of online advertising continued strong year-on-year growth according to the quarterly IAB Insight report – covering Q3, 2008 – which was released by the Interactive Advertising Bureau of New Zealand and PricewaterhouseCoopers today. Despite a tightening economy, total online advertising was up 22.3% on the same quarter last year, and all categories showed double-digit growth on Q3 last year.
Key Stats:
Total Market: $49.82m
Up 22.32% from Q3, 2007 ($39.67m)
Up 1.05% from Q2, 2008 ($49.24m)
Display: $15.84m
Up 24.00% from Q3, 2007 ($12.84m)
Up 5.45% from Q2, 2008 ($14.98m)
Classified: $19.08m
Up 13.99% from Q3, 2007 ($16.71m)
Down 0.47% from Q2, 2008 ($19.15m)
Search & Directories: $14.90m
Up 34.38% from Q3, 2007 ($10.12m)
Down 1.39% from Q2, 2008 ($15.11m)
Locally Display advertising showed a strong quarter-on-quarter growth thisquarter, up 5.5% on Q2, 2008, which Mark Evans (CEO IAB NZ) suggests is a sign that marketers are starting to move more of their brand advertising budgets online as well.
“Online advertising’s reach gives advertisers a cost-effective channel to deliver brand messages to their audiences in a way that is new and engaging. And advertisers are increasingly turning on to the interactive nature of online advertising,” he says.
Read the full report: iab-pwc-insight-q3-2008-final
Peter Hodge. November 18th, 2008 at 2:21 pm.
Is this because New Zealand advertisers have been slow on the uptake and we are still catching up with the rest of the world?
Also does it have anything to do with online advertising being more cost efficent than traditional mediums?
A good result either way.
Josh Borthwick. November 18th, 2008 at 4:37 pm.
Yes to both Peter. Advertisers in this part of the world have been slower to adopt and search has had a greater share of total online advertising spend in this market. You can see display starting to catch-up and yes online can be much more effective, but more so than just cost. There’s a massive opportunity to engage with active audiences that marketers don’t have in traditional mediums. There’s certainly a lot more scope for growth in brand engagement in this market using interactive mediums.