Page 26 - Adnews magazine Sep-Oct 2022

Agenda
for advertisers, along with a higher share of investment going into regional markets,” Arlt says.
Time to evolve
It’s fair to say that TV has deliv- ered the second highest rate of growth of any media in the past financial year, with total bookings up $170 million on FY2020-21, with that growth only bettered by that of digital media, points out Jane Ractliffe, managing director of Standard Media Index.
“That puts TV ad spend about 2.4% above where it was before the COVID period of 2019/20. The media’s growth has also been very consistent, with monthly TV ad spend only declining five times since the media returned to growth in October 2020.”
What’s next? Ractliffe says the TV sector will continue to evolve, with further growth in its BVOD services and diversification of streaming services.
It’s also likely that as previ- ously subscription-only services such as Netflix start to take adver- tising, the market will attribute higher value to streaming-style ads, which may see pricing for those services increase.
Kim Portrate, CEO of ThinkTV, says television has always been a workhorse in any media schedule simply because it reaches large numbers of people quickly, in an environment of their choosing with content that’s highly engaging,
“The pandemic, and recent world events, have reminded advertisers how important TV is to Australians with audiences turn- ing to TV for everything from vital news updates to entertainment to help them relax and escape.”
Advertisers looking to connect with Australians have come to rely on the core strengths of TV. And the last five years of investment by broadcasters in BVOD has created an additional opportunity to target and connect with audiences using data, Portrate says.
Crystal ball gazing
As for the future? The things we understand as core attributes of TV – great programs, large audi- ences and high velocity reach – will remain, Portrate says.
“The demand for premium advertising has remained steady.” Rod Prosser, Paramount
What will be prevalent in the coming 24 to 48 months is the industry looking for better ways to unlock audiences. And that is going to be particularly evident through continued investment in BVOD, she says.
“BVOD allows consumers to watch content when and where they choose and gives audiences the opportunity to turbo-charge cam- paigns with the intensive first party data broadcasters have at their disposal,” Portrate says.
“Increased investment in BVOD is now allowing advertisers to activate broadcasters’ first party data assets, and recent attention research con- firms what we already knew to be true – that TV is a master at command- ing and holding people’s attention. We’re seeing growth in bookings from media agencies and direct clients alike,” she says.
Media agencies have long understood the importance of actioning client business outcomes, whether that’s shifting preferences, generating awareness or sales. “To do this, agencies are always looking for ways to tell stories that quickly reach and engage vast audiences.”
Advertisers want to make the best decisions, reflected in the uptake of ThinkTV’s Media Engine, which has seen more than 2,500 models run, proving the appetite for this information, Portrate says.
TV bubble
Not everyone is convinced the resurgence of television is here to stay.