Difficult space: COVID-19 restrictions have constrained industry revenue growth
Operators in the Advertising and Market Research Services industry have experienced volatile economic conditions over the past five years. Advertising agencies create and distribute advertisements on behalf of their clients, while market research firms conduct targeted market research on behalf of commercial and government clients. Deteriorating business confidence has constrained demand for industry services over the past five years, with many clients cancelling or postponing projects to reduce discretionary spending in response to the COVID-19 pandemic. However, strong demand before the COVID-19 pandemic and growth in R&D expenditure have contributed to an overall increase in revenue. Industry revenue is expected to grow at an annualised 0.3% over the five years through 2022-23, to $2.4 billion. This includes an anticipated 2.3% increase in the current year, as businesses resume or begin new projects following the pandemic.
Industry firms provide a range of advertising or market research products and services to clients. These services include creating advertising campaigns and materials; being involved in media buying and planning activities; providing market research services; and supplying statistical services. The industry excludes sales of advertising space in publications or broadcasts owned by the same firm.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
Table of Contents
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Statistics New Zealand
Methodology
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