Investing in our future: Time for media buyers to act on the power they hold

Published Mi3

Investing in local media, rather than funnelling the bulk of spend offshore, unlocks huge compound benefits for Australia, says ThinkNewsBrands CEO, Vanessa Lyons. Zenith CEO Jason Tonelli, Tourism and Events Queensland marketing boss Kim McConnie, IAG customer and marketing chief Michelle Klein and Affinity’s Angela Smith add weight to the argument.

It’s not really talked about, but a considerable proportion of Australian media spend flows overseas, with some estimates saying up to 60 per cent goes to global tech giants like Meta and Google. 

While these platforms have their place, such a large figure should prompt us all to question – are we missing a trick by diverting so much money away from our local landscape?

Because investment in local media, and particularly in local news media, delivers significant benefits to our businesses and brands, our media and marketing industries, and to Australian society more broadly.

Thankfully, I’ve been encouraged by conversations with media agency and marketing leaders, who clearly understand this, and recognise the power they have to take action, and shape a positive future we all want.

Better work

From an advertising perspective, local media helps brands connect with consumers in relevant and meaningful ways as they have a deeper understanding of Australian audiences.

Australian news publishers are particularly strong in this area. Every day they tell the Australian story by covering what’s happening in this country and what Australians care most about – be that in politics, business, sport or the property market.