Printed newspapers and magazines lost a total of $130 million in media agency advertising revenue in the 2016/2017 financial year, according to the latest Standard Media Index (SMI).
Printed newspapers and magazines lost a total of $130 million in media agency advertising revenue in the 2016/2017 financial year, according to the latest Standard Media Index (SMI).
The print sector was the hardest hit of traditional media platforms, with newspaper advertising plunging by $101m to $448.59m, a fall of 18.4 percent on the previous year. Magazine advertising was down 15.6 percent or $29.3m, to $158.84m.
Growth in digital advertising fell below double digits for the first time in several years, rising by 8.1 percent.
The plunge in print sector advertising comes as Australia is set to deliver its fifth consecutive year of record overall advertising spending in 2016/17 to reach more than $7.1 billion, says SMI AU/NZ MD Jane Schulze.
The television sector booked the major share of ads from media agencies in FY 2017 at $3.1b, followed by digital at $1.9b and out-of-home at $864 million, radio with $580m, newspapers (excluding digital) at $449m, magazines (excluding digital) $159m and cinema $75m.
“The market was stronger in the first half of the financial year, with total ad spend up 1.2% to $3.7b, but suffered in the second half due to the backdrop of huge Federal Election ad spend at the same time in 2016, which saw ad spend decline by 1.6%,” says Schulze.