Australia’s online advertising market shot up by 61.5 percent last year as the full year spending crossed the $1 billion mark. The recent trend and figure suggest that with the phenomenal rate advertising is rising that it would exceed all other forms of advertising in near future. These figures were released by the Audit Bureau of Verification Services, part of the Audit Bureau of Circulations.
Interestingly, the present growth rate has exceeded the 40.3 percent growth rate for the year 2006 projected by PricewaterhouseCoopers. In the year 2005, online advertisement recorded lower than all other forms of advertising and the total online advertisement expenditure was around $620 million. Whereas, expenditure of other forms of advertising such as newspaper, magazine, radio and free-to-air television were at around $3.79 billion, $978 million, $898 million and $3.216 billion respectively.
Experts are of the view that the 61.5 percent growth rate of 2006 has also surpassed the 59.6 percent growth rate of online advertising recorded in the year 2004 and it clearly signals towards the fact that online medium is going to be the most dominant advertising medium.
