New Zealand’s media agency market is continuing its healthy start to the new calendar year with Guideline SMI reporting February ad demand has grown 4.2% year-on-year to $86.9 million, representing the fourth consecutive month of growth.
Key highlights are as follows:
- Outdoor and Radio media led the way with increased demand of 22.8% and 16.8% respectively.
- Magazines are reporting growth of 61.7% YOY mostly due to a massive increase in Newspaper Magazines ad spend.
- Linear TV ad spend was back 7.6% overall with FTA bookings back 13% while subscription TV ad spend soared 40.6%.
- This month seven of the top ten product categories increased their ad spend with the largest gain coming from Restaurants (+17.6% YOY) and Real Estate Agents/Developers ad spend grew 11.6.
- FYTD ad spend is now up 1.1% to $1.02 billion.
- Over this period Outdoor ad spend has lifted 15.7%, Radio has lifted 9.5% and Digital ad spend is up 1.4%.
- While Government spending increased almost 7% in February it still shows the largest decline across the FYTD with bookings down 20.3% on last year.
- But Food/ Produce/Dairy ad spend is up 14% over this period and Insurance has lifted 21%.
