Australian Advertising Outlook Softens

3:58 PM, 29 August 2011

Optimism among Australian advertisers in late 2010 about their advertising budgets for 2011 has been replaced by a considerably more cautious outlook, with overall advertising expenditure growth projections for this year more than halved revised down, according to the Starcom MediaVest Group Media Futures Mid-Year Update.

Taking into account actual advertising spend for the first half of 2011 and predicted spend for the remainder of 2011, expenditure growth is forecast to reach 2.2 per cent overall, compared with a forecast of six per cent at the end of last year.

While 44 per cent of advertisers reported an increase in their year-on-year budgets in the first six months of the year compared with 2010, more than a third of those surveyed for the report update predicted budgets to decrease over the rest of the year.

Source: Campaign Brief

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