SMI has reported market demand is back 8.2% at $425.3 million for January, but that’s mostly due to an abnormally high level of late digital bookings due to be included at month end.
The metropolitan TV, regional radio and retail outdoor sectors are delivering above-average gains this month with metropolitan TV growing agency spend 5.1% to report its best January result in three years.
Regional radio remains one of the best-performing media sectors in the past year (total agency bookings are up 11% on a cumulative month basis) and the growth in retail outdoor (+17.7% YOY) has ensured the broader outdoor media has also reported a record level of January agency bookings.
From a product categories perspective, SMI reported the continuing demand from government advertisers (two state elections are now on the horizon helping push the total +13.8% to $14.6 million) while a number of major sporting events (Ashes, Australian Open, Big Bash) saw gambling ad spend grow 29% to $13 million.
On the negative side, SMI continued to report diminishing ad demand from the retail market (-15.5% in January) and there was also an unexpected decline in travel bookings (-18% YOY).
In the first seven months of this financial year, the market is showing growth of 1.3% to a record level of $4.2 billion. TV bookings are up 0.5%, digital up 8.6%, outdoor up 6.1%, radio up 3.9% and cinema up 9.2%.