TV advertising outperforms market recording growth in first half of FY21
Posted on 8th February 2021 in Media Releases
TV continues to outperform the broader advertising market recording a 0.5% increase in revenue for the six months to 30 December 2020, while BVOD increased 52.7% for the same period.
ThinkTV has today announced the TV advertising revenue figures for the six and 12 months to 31 December 2020.
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% 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% compared to the 12 months to December 2019. For this period, BVOD saw an increase of 40%.
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. Our curiosity for all things TV is boundless – whether it’s understanding how audiences engage with TV, investigating the impact TV has on business results or simply celebrating the creativity of TV advertising – we’re always ready to chat about TV in all its forms and devices.
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