Alastair is our Media Director at MPA
There is no denying the impact of COVID-19 on our society and business generally. Today’s working environment sees many people still working from home, and still limiting their trips out of home, so it comes as no surprise that internet consumption, news consumption and social media activity have all increased. But there is one platform that has been thriving – and that platform is catch-up TV.
Catch-Up TV is witnessing a rise in popularity, as it moves away from the traditional ‘appointment viewing’ content consumption of live TV and instead aligns with the ‘Netflix effect’ of allowing viewers to watch what they want, when they want. Commonly referred to as Broadcast Video-on-Demand (BVOD), its strength lies in the combination of reach, targeting abilities and the impact it brings for brands. Research has found that brands using BVOD to extend their TV reach receive more than double the sales impact compared to brands that combined broadcast TV with social media platforms such as YouTube and Facebook. The research revealed this was due to the inventory on BVOD generating more attention from viewers than its social video counterpart.
Catch-up TV consumption has consistently grown each year. During the first half of 2019, BVOD recorded over 20 billion streaming minutes (Live + VOD), this is an increase of 52 per cent on the same period last year. In the second half of 2019, the BVOD market continued to grow another 42 per cent. With new content partnerships and innovative BVOD ad experiences being announced, this growth is expected to continue in future.
Right now, the value of catch-up TV to reach audiences has never been stronger. According to commercial broadcasting industry body ThinkTV, the COVID-19 pandemic has resulted in increasing demand for catch-up viewing, up 12.5 per cent in the last week of March 2020 - leading BVOD viewership to reach the highest it has ever been. It found viewers are using catch-up TV for light reality content, drama and comedy relief to escape the news of a pandemic reality.
Catch up TV is an affordable alternative to other media platforms as it allows you to place and pair your branded video content with premium prime time entertainment at a fraction of the cost compared to live broadcast. Nine (9Now) are the stand out leaders in the catch-up TV space, with a 48 per cent share of minutes, followed by 7Plus on 34 per cent and 10Play on 18 per cent share of minutes (Jan-May 2020).
Capturing the young Australian family audience, Lego Masters Season 2, has seen overwhelming success, including on catch up TV where total streams have reached 911,000 with an increase of 11 per cent year on year. 9Now has played 35 Million minutes of Lego Masters Season 2 via catch-up; that’s nearly four times the minutes viewed for the live broadcast (9.4 Million minutes). Informer 3838 Season 1 has also received huge viewership with over 13 Million minutes viewed via catch-up in late May, up a whopping 58 per cent week on week.
Another reason why the value of catch-up TV has never been stronger is the very recent and game-changing launch of addressable TV. Addressable TV advertising is the capability to show different ads to different people who are watching the same content. There are even remarketing and look-a-like audience capabilities. It eliminates media spend wastage, and provides far greater targeting and measurement opportunities for brands. Viewers will experience advertising that is more interesting and relevant to their needs.
With many companies choosing to reduce or pause their advertising spend, the opportunity to raise brand awareness and increase a brand’s share of voice won’t last long. Brands are starting to realise the value of catch-up TV, which will make the platform more competitive and expensive in future. Find an agency who specialises in media planning and media buying to secure cost-effective rates and premium placements for your business before they’re gone!
The Media Planning Agency is passionate about generating value for our clients. We leverage our vast experience and in-depth knowledge of the industry to actively source the sharpest media rates, producing better campaign results and return-on-investment. To experience our transparent and results driven approach, contact our team on 1300 889 115 or via email on firstname.lastname@example.org and find out how your business can secure optimum return on your advertising investment.