ThinkTV says the resilience of linear ad spend alongside the growth of digital (BVOD, SVOD) highlights the power of cross platform television campaigns for advertisers.
The 2021 ASA report released today shows TV ad revenue at $605M, up 15.9% on the previous year, and 4.5% growth on pre-pandemic 2019 spend.
Linear television remains a powerhouse for advertisers with $534M spent last year, while the growth of digital TV, up 73% from 2019 to $71M, boosted the total to the highest TV spend since 2015.
Donna Gurney, Chair of ThinkTV says: “This is a reflection that while audience habits and ways of accessing TV content are changing, confidence in the strength of TV viewing remains strong. The continued strength of linear during a time of incredible growth in digital is a huge opportunity for brands when planning their campaigns. The TV industry is evolving, and the numbers show advertisers are getting behind the huge availability of content choices and access points.”
Gurney says the appeal of unique, locally produced content, across sport, news and entertainment, is why more than 2.2 million New Zealanders watch TV every day.
“It is fantastic to see brands continue to recognise this through their ad spend choices, and is also evidence the networks are successfully navigating the changing audience behaviour. It’s a very positive sign for the future, and we expect to see brands reaping the benefits of being able to follow audiences across platforms as we continue to innovate.”
TV’s share of the market, excluding search which is an estimated figure, has been stable at ~30% for more than 10 years.
Jodene Murphy, General Manager of ThinkTV says: “This stability really demonstrates the value of premium, trusted environments as well as TV’s ability to deliver strong results for brands. Not only in awareness and consideration but also in driving search, influencing behaviour change and ultimately leading audiences to make that purchase.”
Murphy says the growth in ad spend is no surprise given how effective TV is at delivering strong campaign results, and ThinkTV is there to assist brands wanting to make the most of these opportunities.
“At ThinkTV we’re all about helping marketers get the most out of their advertising spend by sharing insights, case studies and research to support the most effective campaigns. We’re looking forward to sharing some exciting case studies in the coming months that we know marketers will find incredibly useful for navigating this exciting time in TV.”