New Zealand’s media Agency market has continued its strong run of growth in April with SMI’s NZ data showing advertisers grew the size of their media investment by 4.3% in the latest year-on-year period, bringing the total to $74.7 million.
As a result, the market also continues to report a record level of ad spend for each of the calendar and financial year-to-date periods.
In trying to understand the market’s drivers, we can see via SMI’s Product Category ad spend data that over the past financial year the Airlines/Travel Agents market has been by far the strongest driver of ad market growth.
But in April it’s predominantly been the Retail and Government sectors delivering the highest increase in ad spend.
And as we show in the above graph, New Zealand’s advertising market is also highly correlated to business confidence and clearly that intangible factor is also a significant reason for the current strength of the ad market.