PwC outlook 2021 - Australian media forecasts at a glance

Chris Pash
By Chris Pash | 19 July 2021

PwC today released its latest media industry forecasts for Australia.

The 20th edition of PwC Australia’s annual Australian Entertainment and Media Outlook revealed that total Australian advertising spend contracted by 8% to $15.4 billion in the year to December 2020.

At a glance:

  • In 2020, the overall entertainment and media industry in Australia fell 3.6%, an unprecedented drop that had an unequal impact across the sector.  
  • Despite the challenges of last year, 2021 is showing signs of a strong recovery for most, although the shadow of COVID-19 has not yet departed.  
  • Consumer revenue forecast to grow to $52.6 billion in 2025, at a CAGR (compound annual growth rate) of 3.3%. 
  • Advertising revenue to grow to $19.6 billion in 2025, at a CAGR of 2.6% 
  • Internet advertising recorded growth of 3.3% in 2020 reaching $9.3 billion and is expected to grow at 5.5% a year to 2025. 
  • Streaming Video On Demand (SVOD) revenues will grow at a 20.4% CAGR through to 2025, becoming a US$81.3 billion industry globally and an estimated $3.3 billion in Australia.  
  • Broadcast Video on Demand (BVOD) revenue grew 38.8% in 2020, and will continue to grow with a CAGR of 32.7% to 2025, continuing to grow its overall share of attention. 
  • Interactive games and esports revenue in Australia reached $3.4 billion in 2020, and is expected to increase to $4.9 billion in 2025 at 7.5% CAGR. 
  • Out-of-home (OOH) saw a 39.0% decrease in year-on-year revenue to $772 million, although it is starting to see a recovery, with year-on-year revenue continuing to improve since the second quarter of 2020 (April - June). 
  • Television. The total FTA advertising market fell 9.8% in 2020 due to a significant contraction in marketing budgets. Linear TV dropped 12.1% to $3.1 billion. BVOD offset some of this with growth of 38.8% and a revenue contribution of $229 million. The total market is expected to return to growth in 2021, followed by a annual growth of 2.5%. Linear TV will see a CAGR of -0.7% to 2025 and BVOD up 32.7%a year to 2025. 
  • Radio fell 8.1% in 2020 to A$1.5 billion. Advertiser demand for radio is returning. Terrestrial radio market is forecast to fall 1.1% to 2025. The streaming/internet radio market will rise 12%. Total radio market forecast to rise 3.6%. 
  • Newspapers. The value of news media as a reliable and trusted source of information and insight was heightened in 2020. While digital advertising revenues fell 5.5% to $463 million, digital subscriptions increased 23.5% to $375 million in 2020. Print advertising revenue is expected to fall at a CAGR of 10.2% to $609 million to 2025, print circulation revenue is forecast to decline at a CAGR of 5.1% to $577 million. Digital news display advertising revenue will grow at a CAGR of 3.8% to $611 million. Digital subscriptions will grow, reaching $580 million, an increase of 11.4% CAGR. The total newspapers market growth is forecast at -2.3% CAGR to 2025. 
  • Filmed entertainment. Box-office revenue in Australia fell by two-thirds in 2020. Provided the supply of blockbusters – including the much delayed James Bond film No Time To Die – can resume, box office revenue is forecast to continue recovery at a -0.2% CAGR between 2019 and 2025, reaching A$1.2 billion in 2025. 
  • Consumer magazines. Total consumer circulation revenue is forecast to decline from $389 million in 2020 to $272 million in 2025 at a -9.5% CAGR


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