Undoubtedly, the shadow of COVID-19 has cast its influence over our global society and business paradigms. While the initial waves of the pandemic changed the working environment, leading to increased remote work and a rise in digital consumption, one trend that remains is the ascent of Catch-Up TV.
As many have settled into their new normal, Catch-Up TV continues its surge. It's a refreshing departure from live TV's 'appointment viewing' to a more flexible viewing experience reminiscent of the 'Netflix effect'. Termed as Broadcast Video-on-Demand (BVOD), this format elegantly melds the advantages of reach, targeted delivery, and consequential brand impact.
Research suggests that brands harnessing BVOD to augment their TV presence experience over double the sales impact when compared to merging broadcast TV with platforms like YouTube or Facebook. The attention BVOD inventory garners is significantly more than its social video alternatives.
The Momentum of BVOD
Back in 2019, BVOD reported over 20 billion streaming minutes (Live + VOD) in its first half, marking a 52% growth from the previous year. As 2019 concluded, BVOD's market saw another 42% upturn. Fast forward to 2023, and with novel content partnerships and the launch of innovative BVOD ad experiences, this exponential growth remains unabated.
Recent data from industry body ThinkTV suggests that the influence of the pandemic has spurred a considerable 12.5% rise in catch-up viewing just in the closing week of March 2020, setting an all-time high for BVOD viewership. Viewers increasingly turn to Catch-Up TV for genres like light reality content, drama, and comedy, finding solace amidst the continued news cycle of pandemic updates.
Cost-Effectiveness and Market Leadership
In the arena of digital marketing, Catch-Up TV emerges as a cost-effective titan, letting brands showcase their content amidst prime-time entertainment but without the hefty price tag of live broadcasts. As of mid-2020, Nine (9Now) led the pack with a 48% share of minutes, trailed by 7Plus at 34%, and 10Play held an 18% share.
Shows like "Lego Masters Season 2" encapsulate this trend, boasting 911,000 streams—an 11% YoY increase. Specifically, 9Now showcased a staggering 35 Million minutes of the show via catch-up, almost quadrupling the live broadcast's 9.4 Million minutes.
Personalised Ad Viewing with Addressable TV
A major feather in the cap of BVOD's value proposition is the recent integration of addressable TV advertising. This groundbreaking feature allows varied ads to be showcased to distinct audiences even when they're viewing identical content. Paired with remarketing and look-a-like audience capabilities, this means more efficient spend, precise targeting, and enhanced measurability. The outcome? Ads that truly resonate with viewers' preferences.
Seize the BVOD Opportunity
With fluctuating advertising budgets post-pandemic, now is the prime moment for brands to gain prominence and augment their share of voice. But remember, as more brands recognise BVOD's potential, the platform will see higher demand and, consequently, increased costs. Speak to a media agency that's adept in both media planning and buying such as MPA to secure the most beneficial rates and premium placements before they're snapped up.
Your Partner in BVOD Mastery
Here at MPA, we are driven by delivering unparalleled value for our clientele. Harnessing our industry acumen and extensive experience, we promise the most competitive media rates, ensuring stellar campaign outcomes and unmatched ROI. Experience a transparent and results-oriented partnership. Contact our dedicated team at 1300 889 115 or drop us an email at info@mpa.tv. Secure the pinnacle of return on your advertising ventures with us.
About the author
Connect with Cath
Cath is Head of Strategy at MPA. A seasoned professional in marketing and media, Cath has worked across multiple Agencies and Clients from multinationals to start-ups