Web video is top Aussie online ad segment

CRM Innovation editors
CRM Innovation
The online general advertising market in Australia grew 21% from June 2011 to June 2012, reaching A$768 million ($788 million).
 
It is expected to grow at a compound annual growth rate (CAGR) of 14% until 2017, a new study by Frost & Sullivan revealed.

Online video was also the fastest growing type of online general advertising inventory in the country, growing 58% during the period.

The study was based on a survey conducted with online advertisers in Australia. Half of all respondents indicate that their online general advertising budget increased in 2012, with 39% saying the increase was more than 25%.

Frost & Sullivan forecasts that Australia's online video advertising market will increase from 11% in 2012 to 30% in 2017, outperforming all other major online general advertising segments - online display, advertorials, integrated site content and sponsorships and EDM or e-newsletters.

Phil Harpur, Senior Research Manager, Australia & New Zealand ICT Practice, Frost & Sullivan said online general advertising expenditure funded from diversion of funds from traditional media advertising (such as newspapers, print directories, direct mail, TV, and radio) is high.

"This indicates that the migration from offline to online channels is a significant factor in the growth of the online advertising market. Fifty-nine of organizations indicated they had achieved measurable return on investment (ROI) from their online general advertising in 2012,” he said, adding that media is becoming a popular advertising medium.

Without incorporating social media into their marketing strategies, organizations acknowledge they risk failing to connect with a significant online audience. The survey showed that 43% of organizations use social media to monitor feedback on company performance or provide customer service and resolve customer issues.
 

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