TV ad spends recorded a 0.5 per cent increase in revenue for the six months to 30 December 2020, while BVOD increased 52.7 per cent for the same period according to the latest Think TV data.
Faced with some of the most difficult trading and economic conditions in recent memory, for the first half of FY21, 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 growth of 0.5 per cent compared to the same period the year prior.
ThinkTV CEO Kim Portrate said: “The effect of the pandemic was felt keenly in the September quarter before the TV market finished the calendar year on a very promising note. Despite COVID-led market volatility, TV has, and continues to, play a pivotal role in communicating brand messages at scale driving business results in both the short and the long term for advertisers. Advertiser support for TV remains strong because brands know TV delivers the impact needed to drive growth.”
Growing consumption of content across BVOD platforms 7Plus, 9Now, 10 Play, Kayo and Foxtel Now has been matched by continued revenue increases with BVOD up 52.7% for the six months to 31 December 2020.
“BVOD revenue is performing exceptionally, in line with incredible audience growth. Post COVID, the medium has established a new baseline for viewership with more than 1.6 million hours of BVOD content being consumed every week with more and more Australians – advertisers and consumers alike – embracing the platform,” added Portrate.
For the 12 months to December 2020, the TV market recorded $3.45 billion in advertising revenue, down 10.7 per cent compared to the 12 months to December 2019. For this period, BVOD saw an increase of 40 per cent.
