Total TV advertising market records $4.1 billion in ad revenue for 2022
Posted on 6th February 2023 in Media Releases
Total TV revenue increases by 1 per cent for the 12 months to December 2022 while BVOD growth continues to accelerate – up 23 per cent.
ThinkTV has today announced the total TV advertising revenue figures for the six and 12 months to 31 December 2022.
The total TV advertising market, which includes metropolitan free-to-air, regional free-to-air, subscription TV and Broadcaster Video on Demand (BVOD) and excludes SBS, recorded combined revenue of $4.1 billion for the year to December 2022, which was up 1.2 per cent compared to the same period ending December 2021.
In the December half, TV advertising revenue was $2.1 billion, down 3.7 per cent when compared to the same period ending December 2021.
ThinkTV CEO Kim Portrate said: “Just as Australians and their love for TV continued in 2022, so too did advertisers’ reliance on Total TV as the foundation for their marketing efforts. This is clear in the numbers. Total TV had a solid year, despite the last six months reflecting broader macro-economic conditions felt by all sectors of the industry.”
Investment in BVOD platforms 7plus, 9Now, 10 Play, Foxtel Go, Foxtel Now and Kayo continues to accelerate with BVOD revenue up 10 per cent to $239 million for the six months to 31 December 2022. BVOD revenue for the total financial year was $448 million, up 23.5 per cent year-on-year.
Portrate added: “Audience viewing habits continue to shift and Australian broadcasters are expanding the way they cater to these changes. The growth of streaming viewership, and the introduction of FAST channels, are two great examples of innovations in the BVOD space in the last 12 months. Advertisers are clearly taking note with revenue once again increasing for BVOD, Australia’s fastest growing media channel.”
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