CMO: Australia's online advertising market valued at $17.1bn
NADIA CAMERON - 27 JUNE, 2013
Australia's online advertising market contributes $17.1bn to the nation's GDP and provides more than 162,000 direct jobs, according to the new Digital Dollars report.
The first-of-its-kind report was commissioned by the Interactive Advertising Bureau (IAB) and completed by PriceWaterhouseCoopers, and is based on the 2011/2012 financial year. Alongside the current economic result, the report also claimed the online advertising will be worth $26.5bn by 2017, reflecting a compound average annual growth rate of 7.5 per cent.
The figure is made up of three main Internet sub-sectors: Core, partial and interdependent. Core sector organisations include online ad creators and placement agencies, staff engaged in commissioning advertising and several content platforms and sites.
Partial sector organisations include those who gain some funds through advertising along with ISPs, the software industry, Internet consultants and hardware and other equipment providers. Interdependent sector organisations are those who benefit directly or indirectly from online advertising and include e-tailers, and content sites in the paid media, entertainment and online education space.