Australia’s advertising market looks set to finish the year well, with buyers and spenders predicting Tony Abbott’s win will give the sector a bump.
leading figures in Australia’s media and business community spoke to The Australian, saying the market was already experiencing the flow-on effects of less political uncertainty.
Businesses from all industries had been keeping their purse strings tight until after the federal election, which Prime Minister-elect Tony Abbott convincingly won nine days ago.
Group M chief executive John Steedman, the boss of media buying agency Group M, told the newspaper he predicted a 5-6% increase in the total ad market for the final quarter of this year.
Steedman predicted the market would be up on Christmas ad season.
Here’s what he told The Australian:
Everyone was waiting for the election — knowing what the result was going to be, but waiting till it was stamped on the paper.
“Finally, businesses are starting to look forward.”
This was backed up by another leading media buyer, Mark Pejic, the Australasian chief executive of MediaCom.
“”I think we will have a better Christmas, and there is no doubt we will have a better last quarter than last year.”
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