ThinkTV has announced the total TV advertising market recorded a combined revenue of $4.3 billion for the year to June 2022, which was up 11% compared to the same period ending June 2021.
The total TV advertising market includes metropolitan free-to-air, regional free-to-air, subscription TV and Broadcaster Video on Demand (BVOD), and excludes SBS.
In the June half, TV advertising revenue was $2 billion, an increase of 7% when compared to the same period ending June 2021.
The total revenue for the metropolitan free-to-air networks was $1.3 billion for the six months to June 2022, up 4.3% compared to the same period last year. For the 12 months, metropolitan free-to-air advertising revenue was $2.8 billion, up 8.7%.
Kim Portrate, ThinkTV’s CEO, said: “In the last 12 months, advertiser support for Total TV has gone from strength to strength. Despite – or perhaps because of – difficult conditions and continuously evolving audience behaviours, more and more advertisers are turning to proven media to drive their business growth.
“These figures are a timely reminder that the millions of Australians reached every day convert into customers for the brands advertising on TV,” she said.
Investment in BVOD platforms – 7plus, 9Now, 10 Play, Foxtel Go, Foxtel Now and Kayo – continue to accelerate with BVOD revenue up 44% to $208 million for the six months to 30 June 2022. BVOD revenue for the total financial year was $426 million, up 53% year-on-year.
Portrate continued: “BVOD remains Australia’s fastest growing media channel and for good reason: it offers reach, scale and effectiveness.
“More advertisers are coming to understand BVOD’s power to shift sales just as more consumers are live streaming TV content more often. Given that, BVOD’s growth is poised to continually outpace online video competitors in the coming months and years,” the CEO added.
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