Gambling Ad Spending Increased By 26 Percent till July 2018
2018 has been a gala year for gambling advertisement. New figures from Standard Media Index show that between January and July 2018, gambling ad spending grew by 26 percent. The total gambling advert spends touched $140 million in these seven months despite tough restrictions on TV and online betting ads. The only other sectors to have reported growth in media spending are utilities and domestic banks.
The new figures suggest unprecedented growth in gambling ad spending across all the major channels from January to July 2018. Of these, newspaper advertising accounts for the highest growth in gambling ads, where the media spend increased by 121 percent. In cinema, the ad spend has increased by 84 percent while outdoor media spend has grown by 60 percent.
TV gambling advertising was more closely monitored by authorities in 2018. According to new rules laid down by the Australian authorities, gambling ads cannot be shown between 5 am and 8:30 pm during sporting events. The regulations prevent children from exposure to the industry. Similar restrictions have been imposed on online ads as well.
However, casino and sports betting firms still spent 15 percent more on TV ads in the first seven months this year vis a vis the same period in 2017. In July, gambling advertising revenue experienced 30 percent year-on-year growth across all channels- TV, digital, radio and outdoor.
Jane Radcliffe, managing director of SMI ANZ, said that media spend in the gambling industry increased in the first half due to a larger number of sporting events. Ratcliffe also suggests that increased competition in the industry could be responsible for the higher spends.
Interestingly, gambling operators are far behind utilities in terms of media spending growth. Utilities have increased media spending by 51.4 percent totaling $40.7 million. The industry increased digital spending by 83 percent, outdoor spending by 82 percent and cinema spending by a whopping 1,241 percent.
Domestic banks have experienced 31 percent growth in spending, totaling up to $174 million. Cinema spending increased by 268 percent, outdoor spending by 61 percent and TV and radio spending by 33 percent. Ratcliffe explained that a Royal Commission spotlight on the banking sector and payment providers have helped it increase its media spending significantly.