COVID-19 hit the global economy hard, with industries across the world experiencing hard times. Online advertising is no exception, as shown by the industry’s slowdown during the second quarter of 2020, with a 12% year-on-year drop.
There’s some good news, for those invested in online ads and king kong marketing reviews, however, as the industry’s total remained steady at $9.1bn. On top of that, video ads continue to do well, with no change in year-on-year expenditure, and an increase in share to 53%.
The data was published on the IAB Australia’s Online Advertising Expenditure Report (OAER), with the PwC handling data compilation.
IAB CEO Gai Le Roy issued a statement on the matter, saying that the data that they got wasn’t surprising given the current global conditions. They noted, however, that video remains strong in spite of it all. As for specific sectors of the industry, retail, government, and technology are the ones with the largest share increases compared to Q1 2020.
All categories in online advertising showed drops compared to Q2 2019, as noted by many in the industry and those invested in king kong marketing reviews, and the like. Search and directories dropped by 9%, general display by 11%, and classifieds being hit the hardest with a drop of 22.7%.
Overall, expenditures for online advertising slowed down, but the total for Q2 2019 – Q2 2020 remained steady at $9.1bn, with classifieds’ drop resulting in a total of $1.6bn for that particular category.
The top 5 categories for the industry were automotive, finance, real estate, and retail. Retail and technology saw the biggest increase in shares, while automotive saw the biggest drop.