Whether it’s handling a king kong advertising review or putting up ads on YouTube, online advertising has been hit by the COVID-19 pandemic, the same as most of the industries in the world. Despite the 12% year-on-year drop for Q2 2020, however, the industry managed to stay steady with a total value of $9.1bn.
Notably, the video was an outlier for Q2 2020, managing to keep its year on year expenditure steady, outperforming other sectors to increase its general share to 53%.
Compiled by PwC, the IAB Australia Online Advertising Expenditure Report (OAER) shows how COVID-19 hit the digital ad market, following the good growth of 5.6% that Q1 2020 posted.
IAB CEO Gai Le Roy stated that the numbers aren’t a surprise given recent events and global conditions, with companies, and brands being forced to make drastic changes to adapt. That being said, the video has proven itself extremely resilient despite all of that, holding steady year on year. On top of that, retail, government, and technology have had their shares growing throughout the quarter.
To the consternation of the people invested in many a king kong advertising reviews, all categories in online advertising saw a bit of a drop in Q2 2020 compared to Q2 2019, with search and directories dropping by 9%, and general display dipping by 11%. Meanwhile, classifieds recorded the biggest loss, with a decline of 22.7%.
The top five industries in online advertising got shuffled around, like real estate and entertainment dropping from the top 5, replaced by media and technology, joining automotive, retail, and finance.