Spending on digital advertising continued to grow in the third quarter of 2023, according to IAB New Zealand’s latest Digital Advertising Revenue Report.
Total digital advertising revenue in New Zealand reached $534.8 million in Q3 2023, achieving strong 7.3 percent growth on the same period in the previous year.
IAB New Zealand CEO Angelina Farry comments, “It’s positive to see such strong digital advertising growth in market. Q3 is the strongest quarter of 2023 so far, delivering solid year on year growth.”
The data is drawn from the IAB New Zealand’s Digital Advertising Revenue Report released today by the IAB New Zealand and Baker Tilly Staples Rodway.
In Q3 2023 channel growth was led by Social with 20 percent growth on the same period in the previous year, followed by Search at 11.3 percent.
Within Total Display, Audio and Video topped Display channel growth on the same period last year, with growth of 36.1 percent and 18.8 percent respectively.
The largest growth in Total Display by advertising category was Real Estate, recording a
year-on-year increase of 63.4 percent.
The IAB New Zealand’s quarterly Digital Advertising Revenue Report is compiled from a survey conducted independently by Baker Tilly Staples Rodway on behalf of IAB New Zealand each quarter.
The results reported are considered the most accurate measurement of online advertising revenue since the data is compiled directly from information supplied by companies selling online advertising.
All-inclusive, the report includes data reflecting online advertising revenue from 15 New Zealand online publishers across their websites and commercial online services. The full Q3 2023 Digital Advertising Report is now available for IAB New Zealand members to download from iab.org.nz
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