By Sarah Keith, Group Managing Director, Involved Media
With rising energy prices and high interest rates, the ongoing war in Ukraine, continuing global supply chain issues, not to mention our own Christmas credit card bills, it’s easy to feel pessimistic about Australia’s economic outlook. Cost of living pressures mean consumers are going to be increasingly price sensitive this year and will exhibit the behaviours that come with belt-tightening. Value will be key, as consumers will be shopping around and potentially staying at home more.
Naturally, there will be media winners among those who can navigate the environment best, so here are the areas we can expect the most from this year.
TV Tech
Expect TV tech products like Samba and Adgile to come into their own in 2023 as it becomes more important to reach cord-cutters and other light TV viewers than ever before. Having a sharp eye on wasteage means that relevance and efficiency placement is key. Technology that enables cross-device relevance will be increasingly valuable. In addition, having quick access to actionable insights by measuring conversions will be a big win this year to ensure that campaigns really deliver.
FAST channels
Capitalising on the change in consumer viewing habits as a result of Covid-19, the growing number of FAST channels we are seeing today “are where cable television was 40 years ago” according to TVREV co-founder and lead analyst, Alan Wolk. FAST channels have more available inventory as well as being a great reach vehicle. And, as more and more consumers spend their time on streaming services, we can see FAST channels as the solution brands and marketers need to reach them.
Gaming
Last year, the number of gamers worldwide was estimated by Statista at 3 billion, down from the 3.2 billion during the height of Covid-19 in 2021. Despite this decline, global gaming audiences are projected to increase at a steady rate and move back above 3 billion this year. But what does this mean for marketers? Understandably, many popular video games are not always considered family friendy, but we must remember that there are a lot of brand-safe titles including Pac-Man Doodle, Candy Crush and Solitaire, all of which feature in the top 10 app downloads The opportunity here is to take advantage of gaming’s growing audience, including a fast closing gender gap (46% of gamers are female). If advertisers haven’t already, this is an increasingly risk-free and as yet uncluttered environment for brands.
Sport
Sport broadcasts continue to hold a firm position as one of the best ways to reach massive audiences. For most sports fans, much of the excitement comes from the unpredictable nature of the competition, with fans watching from home – just like fans attending a sporting event live – united by the suspense of waiting to see what happens next. This highly engaged live audience, combined with the power of real-time social media chatter as well as popular shows going behind-the-scenes (Netflix’s Drive To Survive, for example), mean that sporting events can be expected to once again draw huge numbers for broadcasters in 2023. In addition to staples such as the AFL, the NRL, cricket and tennis, this year will also being the FIFA Women’s World Cup in Australia and New Zealand in July and August, starring Australia’s beloved Matildas and the 2022 UEFA World Champions, the Lionesses. Marketers can expect premium prices to access these audiences but worth every penny for the unique engagement and value that leaned in audiences bring.