Industry body ThinkTV has announced the total TV advertising revenue figures for the twelve and six months to December 31, 2019.
Amidst overall challenging market conditions, for the first half of FY2020, the total TV market – which includes metropolitan free-to-air, regional free-to-air, subscription TV and Broadcaster Video on Demand (BVOD) – recorded combined revenue of $1.95 billion for the period, down 5.9% compared to the same period the year prior.
ThinkTV CEO Kim Portrate said: “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.”
Growing consumption of content across BVOD platforms 7Plus, 9Now, 10 Play, Kayo and Foxtel Now, has seen rapid revenue increase with BVOD up 42.8% for the six months to December 31, 2019.
“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,” added Portrate. “This is an achievement all the more noteworthy given the challenging economic conditions the wider advertising landscape is currently grappling with.”
For the 12 months to December 2019, the total TV market recorded $3.86 billion in advertising revenue, down 4.8% compared to the 12 months to December 2018. For this period, BVOD saw an increase of 38.9%.