Online advertising shows 17% annual growth
The classifieds and search and directories categories delivered significant growth in comparison with the prior quarter, however, this was balanced by a reduction in the general display market, which reflects the usual seasonality of the first quarter of each calendar year. However, the decline was less than the historical average, which indicates the strength of the general display market and the ongoing strength of the online market in general compared to other forms of advertising.
Classified advertising and search and directories advertising were the key growth drivers during the quarter, growing by 9.4% and 2% respectively, while general display declined by 11.1% on the prior quarter. Search and directories advertising continued to account for the largest share of total advertising expenditure, representing 51.7% of the market or $264.75 million. General display accounting for 24.6% ($126m) and classified advertising accounting for 23.8% ($121.75m) during the quarter.