Total TV advertising market records $3.3 billion in ad revenue for FY24
Posted on 13th August 2024 in Media Releases
Total TV revenue decreased 8.1 per cent for the 12 months to June 2024, while Broadcaster Video on Demand is up 12.7 per cent.
ThinkTV has announced the Total TV advertising revenue figures for the six and 12 months to 30 June 2024.
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 $3.3 billion for the year to June 2024, down 8.1 per cent compared to the same period ending June 2023.
In the June half, free-to-air advertising revenue was $1.5 billion, down 7 per cent when compared to the same period ending June 2023.
Advertising investment in BVOD platforms 7plus, 9Now and 10 Play increased with BVOD revenue up 12.9 per cent to $212 million for the six months to 30 June 2024.
BVOD revenue for the total financial year was $441 million, up 12.7 per cent year-on-year.
ThinkTV CEO Kim Portrate said: “Despite some of the most challenging conditions in recent history, the Australian television industry has shown remarkable resilience. These results reflect a sustained period of adaptation and innovation as broadcasters continue to evolve to meet the needs of advertisers and viewers, ensuring brands remain front and centre within the content Australians watch.
“The sustained growth of BVOD revenue underscores the value advertisers place on premium, brand-appropriate content – particularly when it is supported by the ability to target audiences with privacy-compliant first-party data solutions. The television industry is confident this will drive ongoing investment and innovation as more brands move to a Total TV strategy to maximise their business results.”
Media Enquiries
Brooke Hemphill
bhemphill@thinktv.com.au
0419 351 445
About ThinkTV
ThinkTV works with the marketing community to lead a collective effort that demonstrates how advertising in broadcast-quality content environments provides the greatest return on investment.
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