Total TV advertising market records $3.4 billion in ad revenue for 2023

Total TV revenue decreases 10 per cent for the 12 months to December 2023 while Broadcaster Video on Demand is up 10 per cent.

ThinkTV has announced the total TV advertising revenue figures for the six and 12 months to 31 December 2023.

The total TV advertising market, which includes metropolitan free-to-air, regional free-to-air and Broadcaster Video on Demand (BVOD) and excludes SBS, recorded combined revenue of $3.4 billion for the year to December 2023, down 10 per cent compared to the same period ending December 2022.

In the December half, TV advertising revenue was $1.8 billion, down 9 per cent when compared to the same period ending December 2022.

ThinkTV CEO Kim Portrate said: “The financial result for the past year reflects the perfect storm of economic headwinds faced by many Australian media companies. Inflationary pressures, supply chain disruptions, 13 rate rises, and record-low consumer confidence have collectively created a complex landscape for advertisers. Despite challenging market conditions, Australia’s broadcasters continue to deliver compelling content that engages large audiences, distributed in an increasingly digital way as the market rapidly evolves.”

Advertising investment in BVOD platforms 7plus, 9Now and 10 Play accelerated with BVOD revenue up 12 per cent to $229 million for the six months to 30 December 2023. BVOD revenue for the total financial year was $417 million, up 10 per cent year-on-year.

Portrate added: “The growth in BVOD revenue is a testament to the adaptability and appeal of the Total TV platform. In a time of shifting consumer behaviours, BVOD continues its upward trajectory reaffirming the broadcasters’ commitment to delivering entertainment whenever, and wherever Australians wish to consume it. This is supported by brand-safe, premium advertising solutions, wholistically measured through the transparent and comprehensive VOZ system.”

Media Enquiries
Brooke Hemphill
bhemphill@thinktv.com.au
0419 351 445

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