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In recent news, research has revealed the ten major trends and challenges impacting the media industry, total TV revenue increases by 11 per cent, News Corp reports over $US10.39 billion in full year revenue, why this year’s holiday shoppers are planning for more seasonal moments than ever and Instagram rolls out digital collectibles in Australia.
State of Australian Media Report Reveals 10 Major Industry Trends
Realtime media monitoring provider Streem has today announced the release of its State of Australian Media Report for August 2022, exploring 10 key media industry trends from 2022 so far.
Investigating issues such as the impact of the new federal government on the media industry, slowing growth in advertising spend, potential industry consolidation and more, the report is a must-read for communications and corporate affairs professionals in Australia.
Streem’s communications lead, Jack McLintock (main image), said: “2022 has been a substantial year for the Australian media industry so far, with the change in government and global headwinds rapidly altering the media environment.
Total TV Advertising Market Up 11%, As BVOD Continues To Surge
Total TV revenue increases 11 per cent for the 12 months to June 2022. While BVOD growth continues to accelerate – up 53 per cent. ThinkTV has announced the total TV advertising revenue figures for the six and 12 months to 30 June 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 $4.3 billion for the year to June 2022, which was up 11 per cent compared to the same period ending June 2021.
In the June half, TV advertising revenue was $2 billion, an increase of 7 per cent when compared to the same period ending June 2021.
News Corp posts record revenue as digital advertising grows
News corp reported an 11% increase to $US10.39 billion in full year revenue, with strong growth in digital subscriptions and digital advertising.
Net income for the year to June was $760 million, a 95% lift from the $389 million of the prior year.
CEO Robert Thomson said: “Our provenance and principles endure at News Corporation but the business has been fundamentally transformed – we are vastly more profitable and have created a potent platform for even greater growth, to the benefit of all our investors and other stakeholders.”
Pinterest: How brands can up their game this festive season
Newly released Pinterest insights reveal this year’s holiday shoppers are planning for more seasonal moments than ever before. Pinterest research reveals that consumers spend 30% more on gifts than those who wait, meaning brands have a unique opportunity to reach consumers who are ready to shop this year.
In Australia, 75% of people on Pinterest say they use the platform to plan for all manner of occasions, moments and celebrations in their lives – and the holiday season is no exception.
Given that the holiday season, and all the mini-celebrations shoppers are reportedly planning around it tend to be marked by gift-giving and avid consumerism, it’s pertinent that brands take heed of this opportunity and adjust their advertising strategy in light of Pinterest’s new findings.
Meta Rolls Out NFTs On Instagram And Facebook
Today, Instagram is rolling out digital collectibles in Australia and to more people in over 100 countries, allowing people to display their NFTs on Instagram and Facebook.
With the rise of web3 technologies, Instagram fans can now support their favourite creators in new ways, including by purchasing and showcasing digital collectibles – art, images and videos, music or trading cards – as non-fungible tokens (NFTs).