The television market in Australia fell 4.8% to $3.86 billion during a difficult advertising year in 2019, according to the latest numbers from industry group ThinkTV.
In the six months to December, the total market – metropolitan free-to-air, regional free-to-air, subscription TV and Broadcaster Video on Demand (BVOD) – recorded revenue of $1.95 billion, down 5.9%.
But revenue for BVOD, Australia’s fastest-growing advertising medium, grew 42.8% to $87.35 million in the six months. Over the full year, the jump was almost 40% to $154.46 million.
Growing consumption of content across platforms 7Plus, 9Now, 10 Play, Kayo and Foxtel Now, was behind the rapid revenue increase for BVOD.
“Changes in the total TV advertising market, the most effective medium for driving business growth, reflect the state of the Australian economy and the impact of weaker consumer and business confidence," says ThinkTV CEO Kim Portrate.
“The performance of BVOD continues to buck general market performance trends retaining the title of Australia’s fastest-growing advertising medium which demonstrates a growing list of advertisers who recognise the value and effectiveness multi-platform TV provides.
"This is an achievement all the more noteworthy given the challenging economic conditions the wider advertising landscape is currently grappling with."
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