Advertising expenditure Down Under is still growing, but the boom times of 2004 appear to be over.

Latest figures show adspend was up 9% to A$4.4 billion ($3.39bn; €2.76bn; £1.85bn) in the first half of this year, less than the 10.4% rise notched in the same period in 2004. The Australian advertising market is worth A$10.4bn.

The prospects for H2 are less robust, with media buyers reporting slower demand. They expect full year growth to be between 5% and 6%. Researcher Mitchell and Partners, however, believes growth will end at around 7% for the full year

Says media agency Starcom's chief operating officer John Sintras: "It's not a bad story. The market is still growing but people who arrogantly assumed we would continue at last year's levels were being unrealistic."

In H1 TV ad revenues were up 7.3% - metro markets rose 6.4% to A$1.16bn while regional increased 4.8% to A$329.8million.

Pay TV posted the biggest increase of any media sector - 37% to A$74.5m - as it continues to poach revenue off the free-to-air networks.

Major national advertisers were the most bullish in the June half, lifting their ad expenditure 13.3% to A$2.86bn.

Data sourced from Sydney Morning Herald; additional content by WARC staff