New stats have confirmed that in the last financial year the Australian online advertising market posted a record revenue of $5.3 billion.

Cashed up

The figures, courtesy of the IAB/PWC Online Advertising Expenditure Report, marks a growth of close to 20% from the previous financial year. 

While every online advertising segment experienced double-digit growth over the period, General Display and Classified were the fastest growing areas at 35% and 23%.

For the same period New Zealand's online ad spend increased by 13% to reach over NZ$470 million, with Food Beverages being the most active sector.

Mobile mojo

Mobile advertising rose by 84% to account for 1.1 billion in the last financial year, with Display being the top performer in this category.

Smartphone advertising accounted for 66% of mobile advertising, and tablets 34%.

For comparison, over the pond in New Zealand 64% of the population has a smartphone, and two thirds of these use their device to search for product information.

Video smash hits

Video advertising increased by 98% year-on-year to post $389 million over this period. Video now accounts for 16% of General Display advertising, a rise of 14% on the previous year.