Metropolitan TV revenue is up 3.8% year-on-year in the first half of 2018 - a sign that marketers are continuing to invest budgets back into television advertising after years of decline.
According to figures released by industry body ThinkTV, the total TV ad market grew by only 1.8% to $1.98 billion in the six months to 30 June 2018.
In the fiscal year, ad spend for the sector was $4.15 billion, which was only 0.5% higher than the corresponding period.
The fastest growing area of TV advertising, albeit from a low base, is broadcast video on demand (BVOD) with ad spend increasing 40.5% to $50 million. Across the full financial year, BVOD revenue grew 32.4% to $92.8 million.
Free-to-air television was a primary driver of growth, up 3.8% to 1.36 billion in the June half and 2.5% in the financial year.
“It’s important to note that we have seen strong revenue growth across the premium BVOD market and the wider linear television market,” ThinkTV CEO Kim Portrate said.
“The rise in BVOD revenues demonstrate the explosive growth that has been driven by the TV industry’s commitment to satisfying its audiences’ hunger for professionally produced content at the time, place and on the device of their choice."
Portrate added that TV consistently outperforms other media when it comes to reach, scale and return on investment.
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