Australian ad market growing, but slower than Asia-Pacific average
PwC's annual Entertainment and Media Outlook report predicts that inflation will outstrip advertising revenues over the next five years in Australia.
On the up
It predicts the advertising market will grow 2.9% up until 2017, behind broad economic growth rate of 3.1 percent.
Both figures are behind the Asia-Pacific growth rate of 7.1 per cent.
However, online advertising is predicted to exceed the growth rate in the region, reaching 9.4 per cent over the same percent, whilst print advertising revenues are predicted to decline.
"There has been a lot of focus on costs and taking costs out," said PwC’s David Wiadrowski.
"Has there been enough time and investment put into developing new businesses and new revenue streams?"
Online revenues in Australia are predicted to reach $3.501 billion. Digital newspaper advertising spend alone is predicted to $489 million by 2017.
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