Pathmatics, the marketing intelligence platform, has revealed new data that shows the top 10 Australian brands when it comes to digital ad spend throughout the first half (H1) of 2022.
Food and beverage ordering app and delivery service platform Menulog took the top spot with the majority of spend within the first few months of the year as fear of the new Omicron covid variant was high and consumers flocked to online food orders.
Streaming platforms such as Binge and Kayo followed in second place seeing the highest investment in digital advertising in May following the news that Netflix was losing high volumes of long-term subscribers.
Foxtel Management (Streamotion, e.g Binge, Kayo) spend in H1 remained pretty stable throughout the period with a peak in May following the news that high volumes of Netflix customers were leaving the platform.
Shopify’s spend in H1 was high throughout the first few months of the year with spend progressively dropping from March until the lowest point in June.
Shopify was the third highest spender throughout the period at a time when ‘the great resignation’ sentiment was high, with many Australian’s looking to leave their jobs and pursue a side hustle or start their own business.
Financial services was the top category, spending an estimated total of $137million in H1. Spend was at its peak in May and June when the RBA interest rates rose.
Financial Services spend throughout H1, seeing a steady rise in activity following the RBA interest rate rise in May and continuing to its highest point in June
The Victorian government also saw considerable digital ad spend at the start of the year with just under $4million spent in January, and was predominantly focused on Covid messaging.
As Covid messaging became less of a priority throughout the year, spending progressively dropped, with its lowest point in June.
Victorian Government spend in H1, spending big with covid messaging at the beginning of the year with spend dropping progressively throughout the year to the lowest point in June.
Eugene Du Plessis, regional director ANZ at Pathmatics & Sensor Tower, said of the data: “The first half of 2022 has flown by, bringing with it a flurry of cultural and economic changes.This has correlated in key peaks and troughs in digital ad spend as brands had to adapt to the ongoing changes in consumer behaviour relating to these societal events.
“Menulog was the top spender during this period as the food delivery service cleverly tapped into consumer demand as covid cases reached some of its highest peaks at the beginning of the year.
“Streaming platform, Streamotion (Binge & Kayo), took the second spot with digital ad spend peaking in May. This coincides with the news that Netflix was experiencing an increase in subscription cancellations, with Streamotion targeting the mass of customers looking for alternative streaming platforms.
Menulog spend in H1, peaking in February and March before dropping to its lowest point in April. Spend started to increase again in May and June although still remained significantly lower than earlier in the year.
Du Plessis continued: “Sensor Tower data reinforces this trend, with Binge & Kayo featuring as the best performing streaming app in the entertainment category in terms of revenue in Australia over the past year.
“With economic pressures mounting and many Aussie consumers feeling the pinch on their purse strings, we saw the financial services category come out top for digital ad spend during the first half of the year. Spikes in ad spend can be seen in May and June as interest rate rises were announced.
“Ad messaging centred around financial support for consumers who may be struggling to navigate the aftershocks of these rake hikes. As we buckle in for the second half of the year, Pathmatics will continue to track key events and corresponding ad trends, lifting the lid on which industries and brands are spending big,” the Pathmatics regional director added.