NZ ad market hit another record high in June

AUCKLAND, Today: NZ’s media agency market has retained its record of 31 months of consecutive growth, with a smaller ( but positive) 0.2% year-on-year increase in media agency adspend in June to a record level of NZ$ 106.8 million.

That also ensures a record level of ad spend for both the June quarter and first half of the year, with the June quarter’s ad spend up 6.3% while first half ad spend grew 6.9% to another record level of $ 557 million.

Sydney-based SMI AU/NZ MD Jane Ractliffe said: “The positive ad demand seen in New Zealand bodes well for the future, as the greater economic caution and inflationary pressures are not yet impacting on ad demand.

“We’re also seeing for NZ an unusually high level of forward pacings for July, with the value of confirmed ad demand already equal to 86.5% the value of the July 2021 total, and that strongly suggests the ad market will continue to grow despite economic headwinds.

“SMI’s global data also showed by the NZ and Australian ad markets have been more resilient in June than their global counterparts.”

“NZ’s outdoor market is one of the strongest in the world – adspend has recovered to above that achieved pre-Covid.”

NZ media hits new record
“Radio bookings grew 5.2% and Outdoor revenues lifted 1.2%.

“Among key product categories there was strong demand from the Retail category in June (+27.2% YOY), and from Restaurants (+30.7%) and Travel advertisers (+53.8%).

“Across the calendar year, the Digital media has again scored the greatest increase in ad spend (+19%) while Radio bookings are up 12.3%, TV is back 3.7% and Cinema ad spend is up 28%.

“Meantime, New Zealand’s Outdoor media is arguably one of the strongest in the world as its 7.7% increase in first half ad spend has ensured it’s the only country in which Outdoor adspend has recovered to now be above that achieved pre-Covid.

About Standard Media Index
Standard Media Index was established in 2009 in Sydney and has offices in New York, London and Madrid. Its NZ data covers more than 95% of all agency spend. SMI works with media agencies 15 global markets.

• www.standardmediaindex.com