Broadcast Video on Demand (BVOD) will continue to fuel growth in the free-to-air TV market which could surpass $4.5 billion by 2025, according to a PwC report.
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.
The total FTA TV advertising market declined 9.8% in 2020 as marketing budgets tightened during the pandemic.
Linear TV revenue declined 12.1% to $3.1 billion, whereas BVOD offset some of this with growth of 38.9% on the prior year with revenue hititng $229 million.
The total market is forecast to return to growth this year, with BVOD continuing to be the growth engine with a compound annual growth rate of 32.7% to 2025.
In a strong market, PwC expects the BVOD market to reach just under $1 billion.
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