New Zealand's digital advertising revenue soars in 2023
The Interactive Advertising Bureau (IAB) New Zealand has released its latest Digital Advertising Revenue Report, giving an insight into the 2023 year-on-year data as well as a brief overview of Q4 2023 figures. The report revealed that the total digital advertising revenue in New Zealand witnessed a considerable year-on-year growth of 4.3%, accumulating to a staggering $2.112 billion. Additionally, the report portrayed an even more encouraging Q4 2023 data, displaying a 7.3% quarter-on-quarter increase with a total digital advertising revenue of $574 million.
Angelina Farry, CEO of IAB New Zealand, expressed her satisfaction over the obtained results saying, "It is positive to see the industry delivering solid year-on-year growth and consistently strong quarterly growth figures." The statistics were part of the Digital Advertising Revenue Report compiled by IAB New Zealand and Baker Tilly Staples Rodway, relying on data collected directly from digital advertising companies, asserting the report's credibility and precision.
The report revealed an interesting breakdown of the different channels' performances in the year 2023. Social and Search channels led the race with 15% and 7.7% year-on-year growth respectively. Among the Total Display category, Audio surfaced as the top performer with a 32.2% growth year-on-year, closely followed by Video, boasting a 9.9% hike.
With regards to advertising categories, Real Estate emerged as the dominating field with a remarkable 28.5% increase year-on-year, shortly followed by Food & Beverages at 21.4%. A similar scenario was observed in the Q4 2023 performance, as it marked the second consecutive quarter delivering strong revenues, registering a 7.3% increase compared to Q4 2022. Social recorded a 19.6% quarter-on-quarter growth, whilst Search experienced a 12.7% uplift.
The Advertising Category trends during this quarter echoed the annual results, marking even more substantial increases: Real Estate saw a sizeable uplift of 71.3%, and Food & Beverages followed at 57.2%. These figures indeed corroborate the robust state of digital advertising in New Zealand.
The survey on which the report hinges, is carried out independently by Baker Tilly Staples Rodway on behalf of IAB New Zealand every quarter. Dealing with data provided by companies engaged in online advertising, the results are believed to be an accurate measure of online advertising revenue. These digital revenue records include data from 15 New Zealand online publishers across their websites and commercial online services. The FY 2023 and Q4 2023 Digital Advertising Revenue Report promise valuable insights into the trends and dynamics of digital advertising in New Zealand.
