Digital advertising has continued to grow despite tough economic conditions, according to industry body IAB New Zealand’s latest Digital Advertising Revenue Report.
Total digital advertising revenue in New Zealand grew by 4.3 percent year-on-year, reaching $2.112 billion. Q4 2023 delivered an even higher percentage increase of 7.3 percent quarter-on-quarter, with digital advertising revenue of $574 million.
IAB New Zealand CEO Angelina Farry says, “It is positive to see the industry delivering solid year-on-year growth, and consistently strong quarterly growth figures.”
The data is drawn from IAB New Zealand’s Digital Advertising Revenue Report, released today by IAB New Zealand and Baker Tilly Staples Rodway.
In 2023 channel growth was led by Social with 15% growth year-on-year, followed by Search up 7.7 percent. Within Total Display, Audio delivered 32.2 percent growth year-on-year, followed by Video at 9.9 percent. By Advertising Category, Real Estate led with a 28.5 percent increase year-on-year, followed by Food & Beverages at 21.4 percent.
Q4 2023 was a second successive strong quarter for digital advertising revenue, with an uplift of 7.3 percent on Q4 2022. Social was up 19.6 percent quarter-on-quarter, and Search delivered an uplift of 12.7 percent.
Quarterly Advertising Category trends followed annual results, delivering an even greater percentage increase: Real Estate saw an uplift of 71.3 percent and Food & Beverages increased by 57.2 percent.
IAB New Zealand’s Digital Advertising Revenue Report is compiled from a survey conducted independently by Baker Tilly Staples Rodway on behalf of IAB New Zealand each quarter.
The results reported are considered the most accurate measurement of online advertising revenue since the data is compiled directly from information supplied by companies selling online advertising.
All-inclusive, the report includes data reflecting online advertising revenue from 15 New Zealand online publishers across their websites and commercial online services.
