TV advertising revenues were down for the six months ending in June, according to new figures released today.
Think TV announced revenue of $1.49 billion, a decrease of 22.1% when compared to the same period ending June 2019.
The total TV market, which includes metropolitan free-to-air, regional free-to-air, subscription TV and Broadcaster Video on Demand (BVOD) -but excludes SBS- recorded combined revenue of $3.4 billion for the year to June 2020, which was down 13.7% compared to the same period to June 2019.
The total revenue for the metropolitan free-to-air networks was $1.01 billion for the six months to June 2020, down 21.9% compared to the same period last year.
For the 12-months, metropolitan free-to-air advertising revenue was $2.33 billion, down 14.1%.
But revenue from BVOD platforms 7Plus, 9Now, 10 Play and Foxtel Now was up 23.4% to $83 million for the six months to June 30, 2020. BVOD revenue for the total financial year was $170 million, up 32.7% year-on-year.
ThinkTV CEO Kim Portrate said: “The past 12 months have been tough for the media sector with COVID-19 making the last six months more challenging than any of us could have imagined. This is reflected in the latest SMI data which suggests the total advertising market was down 14.7% for the financial year. However, demand for TV advertising is strengthening as we move into the new financial year.
“The one shining light through this period of disruption has been the rapid audience growth TV, in all its forms, has experienced. Australians rely on TV to stay informed, to share stories and connect with community. It’s where we turn when we need news and information, while entertainment, reality and drama programs are there when we need an escape.
“TV has played a critical role in communicating brand messages at scale, particularly during the last quarter. This is the reason so many marketers make TV the first medium on the plan and the last one off in tough economic times.”