Australia to make more than $1bn from advertising this year
Posted On June 21, 2021
An advertising company has confirmed it will make more money this year than it did last year.
Key points:Advertisers are expected to make an average of $5.6 million from their online ad campaigns in 2018Advertiser interest in social media is high, according to an Ipsos-Mori pollAdvertising agency WPP says it is already making more money than it ever hasThis comes despite a lack of growth and rising costsAdvertising has been a key driver of growth in Australia’s economy, with the number of people employed in advertising now at a record high of 24 million, according the Australian Advertising Federation.
That growth has seen a significant amount of advertising revenue come from online advertising, as well as traditional media.
The new revenue comes from a range of new ways advertisers are working to engage their target audience, such as using social media, selling branded products and using digital advertising platforms.
But as this growth continues, there are growing concerns about the sustainability of the sector.
The advertising industry has been at the forefront of the global shift towards online advertising.
Advertising spending was $14.3 billion in 2017, according a study by the American Marketing Association.
It is now projected to rise to $18.5 billion by 2020, according TOO Global, a research firm.
This year, the industry has made an average $5,6 million, and the agency has a target of $25 million for the next 12 months.
Advertisor and company chief executive James Karp told reporters on Wednesday the company was making more than it has in the past.
“The key to our future is that we’re not going to be spending the same amount of money every year, and we’re going to make it into a lot more money,” he said.
“We’re going through the roof, we’re doing the right things and the right strategy.”
Mr Karp said it was also important to keep in mind that the growth in advertising spending is not expected to continue at the same pace as the economy.
“What you’ve got to keep your eye on is the economy,” he told the ABC.
“It’s going to pick up some speed in 2019 and 2020.”
The agency has also confirmed that its advertising agency, WPP, is expected to generate $9.4 million in 2018.
It makes an average daily return of $3.40 on its advertising, which is up from $2.70 a day last year, according this year’s report.
Mr Kampo said it had more clients than ever before.”WPP is a client we’ve got a lot of relationships with,” he added.
“They are our key customers.”
I think we’ve really done a good job of leveraging that and we’ve managed to make the best of it.
“The growth in ad revenue is not only due to increased use of social media platforms, but also digital platforms such as Facebook and Twitter.
The rise in popularity of social and digital advertising is likely to result in a shift in advertising budgets, which are likely to go towards social media advertising.
In a survey conducted by the Australian Chamber of Commerce in May, 40 per cent of respondents said they would no longer advertise on Facebook and 40 per per cent said they were no longer targeting social media ads.