My name is Roisin Shaw, Media Account Director here at Javelin. As we enter the New Year, I would like to share some thoughts on the TV and audio planning landscape as the platform options continue to grow into 2023.
Over the past decade, year in year out we hear about the diversification of where people consume their media across various devices and the fragmentation of consumption through the channels. For example, when planning TV, we now look at a holistic planning approach across all available devices but also the many existing, new, and emerging TV advertising channels. For example we must take into account linear Television, Connected TV, BVOD and SVOD as platforms such as Netflix begin to take advertising.
Ultimately what has become apparent across both Television and Audio in all their forms is that rather than seeing the time people are spending fragment across the various platforms, people are actually listening to more audio content and consuming more video. There are more opportunities to target our consumers than ever before.
It’s never been timelier to apply a holistic planning approach, particularly looking at the ever-evolving AV landscape. The TV, VOD and online video market will continue to evolve in 2023 and it is key to look at mirroring strategies that strike the right balance between Linear, VOD and Online Video. In 2023 we will see the arrival of Netflix advertising which will be an interesting space to watch with it already launching in other markets including the UK. Subscription VOD (SVOD) advertising has been long anticipated however, before we jump in headfirst, we will apply learnings from our UK counterparts to gauge success, opportunity, and value. It has been reported that it is expensive with the average CPM costing 50£ in the UK, which is in some cases twice the cost of Broadcaster VOD competitors and there is a high premium of 10% -50% to apply targeting. There’s a slow pick up to date with the enticement to move to an ad funded model being a mere at a £2 saving. It is only the beginning for Netflix, and we will continue to monitor and watch the new ad funded platform evolve and expect to see an increased uptake in the ad funded tier in 2023.
The important point is that TV remains king despite the influx of new video formats that have been bursting on the scenes since as far back as 2008. Since the arrival of YouTube in 2008 multiple other video format platforms have been born such as, Netflix, Disney Plus, Adsmart, Amazon (the list goes on) however minutes of Linear TV viewed per day remains steady
Source: TAM Ireland
In summary, this proves that newer forms of video content are complementing rather than cannibalising Linear TV. People are simply spending more time engaging with video overall.
Since the beginning of the pandemic, we have witnessed the exponential growth of digital audio and it’s showing no signs of slowing down. The most recent IAB and Red C research proves that digital audio continues to soar (after a slight decline in 2021 coinciding with the reopening of society post pandemic) with the average weekly consumption of digital audio at 19.3 hours in 2022, up from 15.3 hours in 2021. And a total of 77% of Irish people are listening to digital audio (up from 71% in 2021).
What is most interesting is, like Television and video consumption, people are not listening to any less traditional radio in favour of digital audio, radio consumption remains the same with 80% of the Irish population listening to radio every day for on average +4 hours a day. So overall people are just consuming more content rather than sacrificing one over the other. Like our AV approach digital audio has become a standard staple on all client audio plans and this will continue to evolve in 2023 to ensure we are gaining incremental reach of audiences across both channels…
In summary, for both AV and audio campaigns, advertisers need to be visible at as many touchpoints as possible to maximise on mental availability. It is our job to plan cohesively to maximise value, impact and reach for our clients brands with the most relevant messaging to each individual platform.