Brands Media recently worked through a June 2024 media landscape and trends update for it's clients, and a big section of the report was centred around the Australian Video Landscape. Here is a brief summary of what we found...
When looking at the landscape of digital entertainment, we know video is king with advertising expenditure up 21% year on year, representing 67% of total display spend as of Q1 2024.
Growth in CTV ownership continues to rise with the latest report showing that 78% of households now have at least one smart TV in the house. With this continual shift towards CTV and the changing consumer preference, it has opened a huge array of opportunities for advertisers, media owners, streaming platforms and content creators alike.
Australians 14+ claim to spend an average 18.7 hours watching free online TV (BVOD catch-up services such as 9Now, 7Plus), subscription TV (SVOD such as Netflix) or social media videos (such as YouTube, TikTok) per week on any device.
Content and screens are driving high video consumption across all demographics, opening up key opportunities to target and capture audiences in line with their viewing preferences.
How consumers view types of content shifts, with connected TV the most popular device to consume BVOD and SVOD whereas mobile reigns for consuming audio and social content.
Australian’s have embraced a multi-device lifestyle which is shaping their daily life and how they consume video content.
Let us know how we can help you to navigate this evolving landscape to best meet and capture your audience across any device.
Source; Ipsos Iris Digital Landscape Report March 2024, Ipsos iris Establishment Survey, March 2024, N=12,810 P14+;
Source; IAB Australia Online Advertising Expenditure Report, prepared by PwC for quarter ending March 2024
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