The Australian Subscription Television and Radio Association (ASTRA) has released its economic contribution report for FY2024 (FY24), with subscription TV representing one-third of the Australian broadcast industry, a $2.9 billion contribution to the economy and supporting 17,000 full-time equivalent jobs during this period.
The ASTRA FY24 Economic Contribution Report was completed by Deloitte Access Economics.
It found that 91 per cent of Australians watch online video content in any given week.
Viewing of paid subscription streaming services has risen from 29 per cent in 2017 to 69 per cent in 2024.
The age group driving increased viewership of online video services is 35+.
The average number of subscription services used to watch content has increased from 3.6 in 2023 to 4.3 in 2024.
Over 1 million hours of subscription television content were distributed in FY24, up 31 per cent from 2022.
“Subscription television is the quiet achiever of the Australian broadcast industry. It contributes one-third of the economic value added of the industry and is a major driver of investment, innovation and choice for Australian audiences,” ASTRA chairman Patrick Delany said.
“What this report makes clear is that we are in the midst of a media revolution in which Australians are now choosing subscription television first, based on its premium content, world-class coverage, and viewing experiences tailored to today’s audience viewing habits.
“The investment being made by subscription television not only gives audiences access to the sport, blockbuster entertainment and trusted news they love, but it makes a significant contribution to local jobs, local production, and underpins Australia’s creative sector,” Delany added.
The report comes as the subscription television industry continues its investment in Australian content with the announcement of a number of new productions and broadcast agreements including The Great Australian Bake Off S9 (Foxtel Group & BBC Studios ANZ), The Brenden Abbott Project (Foxtel Group & Warner Bros. Discovery), The Twelve S3: Cape Rock Killer (Foxtel Group & Warner Bros. Discovery), Selling Houses Australia S18 (Foxtel Group & Warner Bros. Discovery), The Real Cost of Net Zero (Sky News Australia), Cheng Lei: My Story (Sky News Australia) and Australia: A History (Sky News Australia).
“While we have been a quiet achiever for almost 30 years, it’s clear that Australians are voting on the future of television with their viewing habits. The data highlights an urgent need for government policy to evolve with the changing media landscape, particularly on issues affecting subscription TV providers,” Delany said.
“It’s critical that government policy keeps pace with the way Australians are choosing to consume their content. This includes the modernisation of policies, such as the anti-siphoning scheme, to reflect today’s technology and viewing habits, not just the protection of legacy business models.
“Australians want real choice and access to the best content. It’s time for policymakers to ensure a level playing field in television, so that all broadcasters—including subscription TV and streaming services—can compete fairly to deliver the sport and entertainment Australians love, while supporting the continued growth of our creative industries,” he added.
ASTRA members supporting the Economic Contribution Report include BBC Studios Australia and New Zealand, Foxtel Group, Sky News Australia, ESPN Australia and Warner Bros. Discovery.
