The Independent Media Agencies of Australia (IMAA) has released the results of its Indie Census for June 2024, revealing a positive outlook for the coming financial year.

According to the census, half of the independent media agencies surveyed anticipate an increase in ad spend. Of those expecting growth, almost half predict it will grow by at least 10% to 20% year-on-year.

The biggest growth is expected to come from digital video and BVOD/CTV, with almost 70% of respondents predicting these channels will grow by at least 25%. A similar growth across programmatic out-of-home is anticipated by 60% of agencies.

"Our latest Indie Census shows agencies are heading into the new financial year with a renewed confidence in the market. While cost of living pressures and faltering consumer confidence are still looming, our members are confident that clients will continue to invest in their brands. Digital will be the main recipient of spend, along with performance channels that offer greater return on investment in the current economic climate," said IMAA CEO, Sam Buchanan.

Performance, including paid social and SEM, will be the biggest area of investment for indie agencies in the coming financial year, followed closely by TV (linear and BVOD) and digital. Investment in media channels will be heavily driven by return on investment.

Education remains a priority for agencies, with respondents naming the IMAA Academy education offering as highly valuable. "Education continues to be a priority for indie agencies as they look to upskill and grow their teams. The IMAA is leading the charge in professional development for the indie sector with its landmark IMAA Academy. The IMAA’s innovative group deals for members and trade credit insurance have also proved valuable," Buchanan said.

Almost all indie agencies believe AI will have some effect on their business in the future, with 40% expecting it to have a significant impact. More than half of the agencies have already tested or are planning to test alternative contextual strategies in preparation for a cookieless future.

90% of agencies said a fully managed service model was important to them when planning, buying and transacting BVOD. Nearly 60% of agencies said they were planning audio investment across radio, podcasts and streaming in the coming 12 months. Four in 10 agencies said they were set to invest more in out-of-home advertising (OOH) in the next 12 months, especially given the introduction of MOVE 2.0.