Media agency bookings grew 41.8% in July compared to the same month in 2020, partly buoyed by television ad spend for the Tokyo Olympics. This was the fourth month in a row of growth beyond 40%, as measured by SMI (Standard Media Index).
The total market spend is 7.4% above the pre-COVID level in July 2019 and only $2 million off the record level of July ad spend reported in 2016.
TV ad spend, with a 41.9% rise compared to the same month last year, recorded its highest July since 2016. Ad spend at digital video sites doubled.