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  • Emma Castino

THE WEEK THAT WAS - W/C 23rd jan

MEDIA UPDATE OF THE WEEK


Kicking things off this week, Netflix have reported that their tiered subscription has now reached 7.7M since launching in November 2022. Netflix claims that they have seen little to no cannibalisation of their pre-existing customers, yet detailed figures are yet to be published.


In other streaming news, the Australian government is imposing local content quotes on all streaming platforms as part of a larger cultural policy scheme – aiming to support the local film industry. The new initiative is set to roll out no later than 1st July 2024, and negotiations with each streaming service are taking place over the next 6 months.


The Australian screen industry wants the quota of local vs international content set at 20%, however streaming platforms are advocating for a figure closer to 2%. A Netflix spokesperson has said, “We don't oppose regulation, but do want it to be sustainable, equitable and evidence-based”.


In other news, we are continuing to see post-pandemic recovery across Outdoor and Cinema – two channels that suffered the most during peak COVID-19.


Outdoor revenue for 2022 officially cracked $1 billon dollars, up 28% from 2021. Q4 2022 was the first quarter to exceed pre-pandemic levels, increasing 4% in comparison to Q4 2019. With the industry’s investment in MOVE 2.0, developments to programmatic and automation as well as the continued prioritisation of digital formats, 2023 is set up to a strong year.


Val Morgan Cinema are happy to report 10.5M admissions between 15th December – 29th January which represents a 27% growth YoY. Mostly to thank for this growth is Avatar: The Way of Water, which kicked off the school holiday period, drawing in crowds in droves. The film delivered 4.4M admissions, of which 50% were 3D sessions (driving box office dollars even higher).


Hopefully this strong start to the year has created momentum for the rest of the year, which is set to see many returning franchises such as Ant-Man and the Wasp 3, Shazam! Fury of the Gods, John Wick: Chapter 4, Guardians of the Galaxy 3, Indiana Jones 5 and Mission: Impossible 7 – just to name a few!


Sources:



CONSUMER CONFIDENCE


This week saw an increase of 0.9 points, now sitting at 86.8 and being the third increase out of four weeks in 2023 so far. In saying this, Consumer Confidence is still a large 15 points below STLY (January 24-30, 2022 at 101.8), and now 1.9 points below the 2022 weekly average of 88.7.


Driving this week’s small increase was a slightly more positive sentiment regarding whether now is a ‘good/bad time to buy major household items’.


· Consumer Confidence around Australia was mixed with the measure up in New South Wales, Queensland and Western Australia, but down in Victoria and South Australia.


· Now, 22% of Australians (unchanged) say their families are ‘better off’ financially than this time last year compared to 44% (down 1ppt) that say their families are ‘worse off’ financially.


· Looking forward, over a third of Australians, 34% (unchanged), expect their family to be ‘better off’ financially this time next year while just under a third, 30% (down 1ppt), expect to be ‘worse off’.


· Of concern, only 7% (down 2ppts) of Australians expect ‘good times’ for the Australian economy over the next twelve months compared to fewer than a third, 30% (unchanged), that expect ‘bad times’.


· Sentiment regarding the Australian economy in the longer term is still very weak with only 14% (unchanged) of Australians expecting ‘good times’ for the economy over the next five years compared to 17% (down 2ppts) expecting ‘bad times’.


· When it comes to buying intentions, 24% (up 1ppt) of Australians say now is a ‘good time to buy’ major household items while 46% (down 1ppt), say now is a ‘bad time to buy’.

ANZ Senior Economist, Adelaide Timbrell, commented:

Consumer confidence rose by 0.9pts to 86.8 last week. After a jump at the start of the year, confidence has remained relatively stable over January, within a band of 1.8pts. While confidence remains well below the neutral level of 100, its four-week average is at its highest level since June 2022. Household inflation expectations dropped 0.6pts despite the news last week that annual inflation hit a 32-year high in Q4 2022. This is a signal that household inflation expectations remain somewhat anchored despite accelerating inflation through 2022.



TV AND RADIO LANDSCAPE


Moving into this week, we said goodbye to both the Australian Open and The Bachelor and hello to the tentpole showdown of MAFS, Australian Survivor and Australian Idol.


Nine served up absolute gold with the Men’s final on Sunday 29th, ranking #1 across TTL PPL with 1.3M viewers watching Novak Djokovic return to Grand Slam royalty. The final was however down 23% compared to 2022, where we saw Rafael Nada win his 22nd Grand Slam. Whilst performance was down across linear TV, the 2023 Men’s final was the most watched Aus Open match on 9Now with 245K TTL PPL, representing a YoY growth of 8%.

Unable to compete against the Men’s final was The Bachelor finale which was down 69% YoY, drawing in 356K TTL PPL (372K watching final decision). The program, however, was the #1 entertainment spot for under 50s and maintained #1 commercial series on BVOD since its launch.


In the three-way battle for TV supremacy, it came with no surprise that Married at First Sight won launch night with 840K TTL (-3% YOY) while Survivor and Australian Idol achieved 447K (-36% YOY) and 413K respectively.



Source: Nielsen eTAM (Week 3, WC 22nd January 2023)

BVOD AUDIENCES


From a BVOD perspective, both MAFS & Survivor saw personal achievements for opening night. MAFS saw an 18% YOY uplift on their BVOD live audience (111K) marking it the highest ever Live BVOD audience for a launch episode of the show. Survivor’s live stream was up 8% vs 2022 launch with 447K streams – making it the show’s biggest live stream audience ever. It will be interesting to see how both Survivor and Idol go in fighting for the #2 tentpole of Q1 behind MAFS, the TV juggernaut.


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