ThinkTV has announced the TV advertising revenue figures for the six and 12 months to 30 June 2023.
The TV advertising market, which includes metropolitan free-to-air, regional free-to-air, and Broadcaster Video on Demand (BVOD) excluding SBS, recorded combined revenue of $3.6 billion for the year to 30 June 2023, down 7.9 per cent compared to the same period ending 30 June 2022.
In the June half, TV advertising revenue was $1.6 billion, a decrease of 11.8 per cent when compared to the same period ending 30 June 2022.
Total revenue for the metropolitan free-to-air networks was $1.1 billion for the six months to 30 June 2023, down 15.3 per cent compared to the same period last year. For the 12 months, metropolitan free-to-air advertising revenue was $2.5 billion, down 10.6 per cent.
ThinkTV CEO Kim Portrate said: “It has been a challenging 12 months for advertisers, broadcasters, and consumers alike which is reflected in these figures. Yet, despite the economic headwinds the wider industry faces, BVOD growth continues.”
Investment in BVOD platforms 7plus, 9Now and 10 Play saw revenue increase 6.9 per cent to $188 million for the six months to 30 June 2023. BVOD revenue for the total financial year was $391 million, up 6.1 per cent year-on year.
ThinkTV CEO Kim Portrate added: “These results show that even as budgets contract, marketers continue to invest in all forms of today’s television, a testament to its reach, targeting and effectiveness. This reinforces the power of Total TV to drive business outcomes.”
In February, ThinkTV announced the total TV advertising revenue figures for the six and 12 months to 31 December 2022.
The total TV advertising market, which includes metropolitan free-to-air, regional free-to-air, subscription TV and Broadcaster Video on Demand (BVOD) and excludes SBS, recorded combined revenue of $4.1 billion for the year to December 2022, which was up 1.2 per cent compared to the same period ending December 2021.
In the December half, TV advertising revenue was $2.1 billion, down 3.7 per cent when compared to the same period ending December 2021, according to the media company.
Read more: ThinkTV reports total TV advertising revenue is up $4.1 billion for 2022