Perspective - Kim Portrate and the importance everyday Australians place on TV

By AdNews | 8 December 2022
Kim Portrate.

AdNews asked industry figures for their assessment of 2022 and outlook for next year

Kim Portrate, CEO, ThinkTV and Premium Content Alliance

2022 was the year buyers really came to understand the importance everyday Australians place on TV.

We’ve long said TV is the cornerstone of communities across the country, helping to shape, create, reflect and strengthen the sort of Australia that Aussies want to live in.

And in the past 12 months, advertisers have been reminded of this in a variety of ways.

This was confirmed by the incredible year for TV revenue with the Total TV advertising market recording $4.3 billion for 12 months to June 2022, up 11% on the same period a year prior. Likewise, Broadcaster Video on Demand (BVOD) generated revenue of $426 million, a whopping 53% increase as BVOD continued its run as Australia’s fastest-growing media channel.

One of the greatest highlights of the year has been the continued interest and investment in quality video – from consumers watching to advertisers buying. A real standout has been the growth of BVOD minutes, particularly among younger audiences. In the first half of 2022, compared to the same period last year, kids viewing was up 10%, 18-to-24-year-olds were watching almost 20% more BVOD and 25-to-39-year-olds did the same.

This will be remembered as the year consumers embraced the digitisation of TV with consumption of live-streamed BVOD content increasing exponentially. If the Olympics in 2021 introduced a host of new viewers to watching live stream TV content anywhere anytime, 2022 was the year they wholeheartedly embraced it.

On a more personal note, it’s been great to get back to some sort of normal living after Covid. The evolution of where we work – office, home, hybrid and everything in between – became less important than what really matters: productivity that comes from partnerships with the right amount of flexibility and work life balance.

So, what lies ahead in 2023? I would say caution and bravery in equal measures. Caution because we are in the midst of interesting macroeconomic conditions and bravery because it takes a strong brand and business to continue to innovate, communicate and support their customers through economic headwinds.

The brands and businesses that hold fast and continue to invest in their future despite the turbulent conditions will benefit most as we come out of this cycle toward the end of 2023.

In terms of the challenges and opportunities in the new year, we have work to do ensuring the next generation of leaders – from brand managers to media buyers – have a voice in where the industry is heading.

We can also look forward to the ongoing refinement of VOZ to ensure today’s TV measurement remains relevant and useful to advertisers and agencies.

I’m excited to see what surprises 2023 will bring our ever-changing industry. The last couple of years have shown me that together we do more than just survive, we can thrive.

So, bring on 2023 and, with a bit of luck, series two of House of the Dragon. Like a lot of you, I need my regular Westeros fix.

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