Platforms like 10Play, 9Now and 7plus aim to provide on-demand choice and high quality live-streaming options for viewers that have become used to streaming like Netflix, Disney+ and Amazon Prime. The December half slowdown in BVOD revenue growth, which has for years been mitigating declines in broadcast free-to-air, may be particularly concerning for networks. There were some key events in the back half of 2021 that spiked the television market up – the Tokyo Olympics in July and August, as one major example. Even the slight rise in total TV to $4.2 billion represents a fall in real terms after accounting for high inflation. Metropolitan free-to-air advertising fell 1.5 per cent in the full 2022 calendar year, to $2.7 billion. “Total TV had a solid year, despite the last six months reflecting broader macroeconomic conditions felt by all sectors of the industry,” she said. It has been a more challenging ad market for everyone, ThinkTV chief executive Kim Portrate said. The ‘total TV’ figures, which include all advertising revenue from metropolitan and regional free-to-air networks, as well as BVOD spend, fell 3.8 per cent to $2.2 billion in the same time. Television revenue fell in the second half of 2022, and due to inflation fell in real terms for the calendar year. But that rise was overshadowed by a 6.4 per cent – $96 million – decline in metropolitan advertising to $1.4 billion.
In the six months to December, revenue from services like 9Now, 7plus, 10play and Kayo, known as ‘ broadcast video on-demand’ (BVOD) platforms, rose 10 per cent to $239.7 million, figures from KPMG released by industry body ThinkTV reveal. The television ad market was worth $4.2 billion in 2022, inching up by 1.2 per cent after strong growth in revenue from the TV networks’ streaming services, even though the market contracted by $83 million as advertising slowed in the second half of the year.
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