The Latest NZ Digital Advertising Revenue Results
The latest New Zealand Digital Advertising Revenue Report was published by the IAB New Zealand yesterday (3rd April 2024) and provided both an overview of the 2023 financial year-on-year performance and early glimpse of 2024 with the release of Quarter 4 2023 revenue performance data.
The key finding of the report included:
- New Zealand total digital advertising revenue grew by 4.3% year-on-year to $2.1 billion.
- Digital advertising revenue in Q4 2023 performed even better up 7.3% quarter-on-quarter to $574 million.
- Search remains highly dominant accounting for 47% of total revenue ($992.4m) and grew 7.7% year-on-year.
- Display (Total) accounted for 26.5% of total revenue, the second highest share by channel with $559.4 million and was down 1.7% year-on-year.
- Classified and Directories accounted 16.6% of digital advertising revenue at $350m and was down 0.8% year-on-year.
- Social Media Advertising saw good year-on-year growth (up 15.0% year-on-year) but only commanded 10% of total digital advertising revenue grew.
Angelina Farry, CEO of the IAB New Zealand remarked “It is positive to see the industry delivering solid year-on-year growth, and consistently strong quarterly growth figures.”
