Indie agencies optimistic about BVOD/CTV growth but confidence in print wanes
In a follow-up to the IMAA indie census results, most Australian independent agencies have put their money on the growth of BVOD/CTV in the next financial year, while giving print advertising a thumbs down.
Among IMAA’s 160 independent agency members, 92% have predicted growth of up to 25% or more for BVOD/CTV, followed by digital video (79%), programmatic out-of-home (78%), podcasts (75%), digital – social (64%), digital – search (64%), digital radio (57%), and out-of-home (57%).
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Most agencies predicted linear television, linear radio, and cinema to be flat year-on-year, with more than 40% expecting print to decline by 25% or less.
In terms of what they care about the most in an advertising medium, ‘the ability to reach people at the right time’ was the most selected attribute.
It is followed by ‘influential talent’, ‘a medium people enjoy consuming’, ‘content that triggers an emotional response’ and ‘talent who are inspirational’.
TikTok, out-of-home and BVOD, were nominated as the three platforms media agencies were most looking forward to utilising in the next 12 months.
Sam Buchanan
IMAA CEO, Sam Buchanan, said: “Our Indie Census provides in-depth insights into where and how indie media agencies are planning to invest in the year ahead, as well as key areas of importance to agencies and their clients.
“As the number of indie agencies offering full service grows rapidly and more and more buying is occurring through digital pipes, our members offer the unique ability with their planning and buying decisions to be agile and to meet changing client needs and help deliver business success.
“This is particularly important in an inflationary environment where every dollar counts.”
Among other findings, location-based targeting was seen as ‘extremely/very’ important by almost 70% of agencies, with nearly seven in ten agencies allocating up to 15% of client budgets to test and learn strategies.
Using attention-based data for media planning and buying decisions was ‘highly/most likely’ to be used this year by 56% of agencies.
Sustainability credentials of media owners were also growing in importance, with more than half (55%) saying that they expect it to influence their buying decisions soon.
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Darcy Song is a reporter at Mumbrella, covering media owners, adtech and social platforms. She joined in March 2022 as an editorial assistant.
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