The continued migration from TV and newspapers to online advertising by business is set to double the value of Australia's online advertising sector over the next five years, from $510 million in 2009 to close to $1.2 billion in 2014.
The sector's value grew by 19% in the 2008-09 financial year, despite businesses cutting their online marketing costs due to the global economic downturn, a Frost & Sullivan report released yesterday found.
"Although 2009's overall growth is slightly down when compared to the 22% increase in 2008, it's still a very strong result given the economic environment," Frost & Sullivan senior research manger Phil Harpur told SmartCompany.
"Businesses and ad agencies that are slow to adapt will be forced to reevaluate their budget allocation to achieve their marketing goals," Interactive Bureau of Australia chief executive officer Paul Fisher says. "That's nothing different from what is happening now but it will accelerate."
For businesses with an online budget, the most popular ads were display ads such as banners, skyscrapers and pop-ups, with 59% of companies making purchases in 2009, although this fell from 64% the previous year.
But use of online video advertising grew, surging from 17% in 2008 to 25% in 2009. In addition, 49% of companies used e-newsletters in 2009, up from 39% in 2008...
from SmartCompany
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