The television market in Australia fell 4.8% to $3.86 billion in 2019, according to industry marketing group ThinkTV.
This includes metropolitan & regional free-to-air (except SBS), subscription TV and Broadcaster Video on Demand (BVOD).
In the 6 months to December, the total market recorded revenue of $1.95 billion, down 5.9%.
ThinkTV CEO Kim Portrate said: “Changes in the total TV advertising market, the most effective medium for driving business growth, reflect the state of the Australian economy and the impact of weaker consumer and business confidence.”
But BVOD platforms 7Plus, 9Now, 10 Play, Kayo and Foxtel Now, have seen rapid revenue increase with BVOD up 42.8% for the six months to December 31, 2019.
“The performance of BVOD continues to buck general market performance trends retaining the title of Australia’s fastest-growing advertising medium which demonstrates a growing list of advertisers who recognise the value and effectiveness multi-platform TV provides. This is an achievement all the more noteworthy given the challenging economic conditions the wider advertising landscape is currently grappling with,” added Portrate.