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SMI

New Zealand media agency market tightened in August, with total spend back 11% year-on-year to $83.9 million at least in part due to the bulk of the Paris Olympics Games being held in August 2024.

Key trends are as follows:

  • As the key Olympic media, TV bore the brunt of the downturn with ad revenues back 27.7% YOY
  • But Radio remained resilient, up 1.4% due to strong demand in National Radio
  • Outdoor slipped 2.1%
  • Digital retreated 6.0% in August but further late bookings may yet come through
  • Magazines rebounded strongly — surging 74.3% YOY driven by further large gains in Newspaper Magazine ad spend
  • Calendar-year numbers told a different story, however, with Outdoor up 15.7% compared with the same period last year to $131.6 million, led by robust Billboard (+15.1%) and strong growth in the Aviation and Transit sector numbers (+39.5%). Radio also grew strongly, up 13.6% to $57.9 million CYTD and Magazines were up 46.9% to $7.5 million.
  • CYTD data now shows the market up 0.1%
  • FYTD (Apr–Aug), the market is back 2.8% with growth in Radio (+11.3%), Outdoor (+9.5%) and Magazines (+36.1%)
  • Forward bookings for September are looking strong