While pundits might be fretting over the real estate bubble, Australian confidence in online spending continues to grow at a cracking pace.
Oi, big spender
According to the IAB/PWC Online Advertising Expenditure Report, Australian online spend topped $1.7 million in the first quarter of 2016.
This record figure marks 25% year-on-year growth. For comparison, the UK and UK digital advertising markets grew by 16% and 20% respectively over the same period.
Mobile spend is the local superstar, now accounting for 50% of General Display advertising.
In Q1 mobile ads accounted for $507.8 million. 57% of this was Display, 43% for Search.
Over the same period, video made up 25% of Aussie digital spend.
FMCG is still the most active player in this category, followed by Motor Vehicles and Retail.
The report used data and information from over 1000 media websites and apps, including Facebook, Google, LinkedIn and Twitter.