Advertising revenue for the TV industry fell by 13.7% for the financial year and 22% for the half year when the market was hit by the coronavirus pandemic.
Total revenue, including free-to-air, subscription and broadcast video-on-demand but not SBS, was $3.4 billion for the 12 months to June.
For the June half, TV advertising revenue was $1.49 billion, down 22.1% when compared to the same period in 2019.
Total revenue for metropolitan free-to-air networks was $1.01 billion for the six months to June, down 21.9% compared to the same period last year. For the 12-months, metropolitan free-to-air advertising revenue was $2.33 billion, down 14.1%.
“The past 12 months have been tough for the media sector with COVID-19 making the last six months more challenging than any of us could have imagined,” says Kim Portrate, ThinkTV CEO.
“This is reflected in the latest SMI data which suggests the total advertising market was down 14.7% for the financial year. However, demand for TV advertising is strengthening as we move into the new financial year.
“The one shining light through this period of disruption has been the rapid audience growth TV, in all its forms, has experienced. Australians rely on TV to stay informed, to share stories and connect with the community.”
7Plus, 9Now, 10 Play and Foxtel Now continued to grow, with revenue for BVOD up 23.4% to $83 million for the six months to June 30. Revenue for the total financial year was $170 million, up 32.7% year-on-year.
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