New Zealand’s advertising market has continued its recovery from the Covid-19 pandemic by reporting a record level of July ad spend after ad demand soared 32.5 percent year-on-year, at least in part due to Olympic-related spending.
It’s the fourth consecutive month in which NZ ad spend has recorded double-digit growth, with the total of $90.2 million exceeding the previous record of $89.4 million set in July 2017.
Television’s broadcast of the Tokyo Olympics helped push TV ad revenues 26.4 percent higher, while the Digital media also delivered a result above the pre-Covid levels after July bookings jumped 34.7 percent.
Other media reporting exceptionally strong gains included Newspapers (+46.2 percent) and Outdoor (+62.5 percent).
And SMI AU/NZ Managing Director Jane Ractliffe says there was no sign of the market losing confidence as a result of the recent Delta outbreaks, with SMI already reporting a 12.5 percent increase in early August ad spend (ex Digital).
“t’s clear the advertising market has learned to live with Covid as there is definitely no panicked mass cancellation of ad spend as we saw last year evident in the payment data,” Ractliffe says.
“And New Zealand’s Covid recovery remains the strongest of any market in which SMI reports ad spend, and with the July totals exceeding the previous record it really highlights the ongoing strength of the market.”
Television’s July ad spend was the highest recorded since July 2015 as the Tokyo Olympics delivered renewed demand for that media.
“The growth in New Zealand’s TV market in July was underpinned by a doubling of ad spend from Banking advertisers, with strong growth also from the Toiletries/Cosmetics, Government and Communications categories,” Ractliffe adds.
Calendar year-to-date results now show the NZ ad market has now grown by 31.1 percent on the same seven months last year with the total now 6 percent above the pre-Covid January to July 2019 period.