MEDIA UPDATE OF THE WEEK
On April 25, Twitter accepted Elon Musk’s offer to acquire the company for $44B. There is much speculation on his plans post-closing, however Musk himself has tweeted that his goals for acquiring the company is to ‘make Twitter better than ever by enhancing the products with new features, making the algorithms open source to increase trust, defeating the spam bots, and authenticating all humans.’
Musk has previously made many high-profile product suggestions including;
- Editing or Removing Tweets
- Account Human Vetting
- Crowd-sourced input on content decisions and changes to algorithms
- Transparency through Github to house open-source code for consumer review
Pressures from advertisers to ‘clean up the platform’ have kept Twitter motivated to lean in and in some respects, lead the industry in measures that create an increasingly safer platform for Twitter user and advertisers. Musk’s declarations of complete free speech could work against what the ad industry generally perceives as progress on the brand safety and suitability fronts.
In order to relieve reliance on advertisers Musk has suggested moving to a subscription revenue model however it’s estimated that two-thirds of the MAUs would need to opt in in order to break even on advertising yearly revenues.
Any concrete changes to the platform or the organisation including its advertising roadmap are expected to take several quarters post-closing to crystallise.
With many Australians taking time off, between Easter & ANZAC Day, Consumer Confidence was virtually unchanged at 96.5 (0.3pts down WoW). Consumer Confidence is significantly down by 15.9pts vs same week YoY (96.5 vs 112.4 April 24/25, 2021) and remains just below the 2022 weekly average of 98.1.
Consumer Confidence for this week, had mixed results around Australia, with index down in VIC and WA but up slightly in NSW, QLD and SA.
ANZ Head of Australian Economics, David Plack, commented: “Consumer confidence was practically unchanged last week, despite the continued fall in inflation expectations. Confidence declined by a modest 0.3% as petrol prices increased a touch after four straight weeks of decline. Even with higher petrol prices, households’ inflation expectations dropped 0.2ppt to 5.1%, its lowest level since the week ended 20 February. Today’s inflation data could have a near-term impact on sentiment, with it expected to confirm that inflation has surged. Among the major states, confidence increased 5.5% in NSW, 2% in Queensland and 3.5% in SA, while it dropped 4.4% in Victoria and 12.5% in WA. NSW was the only state with confidence above the neutral level of 100."
Nine and Seven continue enjoying the highest network shares for the week, at 29.8% and 27.9% respectively, driven by a consistently strong News programming audience. Seven won the top spot every night of the week in all cities except Sydney, which fell to Nine.
Seven News won the week overall, with the top entertainment program was The Voice, peaking at 766k on Monday, which has seen a stable viewership so far this season. Lego Masters followed as the second-most watched entertainment program and topped the week in key demos – seeing 337k P25-54 tune in on Sunday. MasterChef was down an average of 20% against week 18 2021, however is seeing a steady P25-54 audience tune in per episode, comparable to The Voice.
The annual Anzac Day AFL match, which aired on Seven, saw 664k total people tune in – a decrease of 12% compared to 2021.
Source: Nielsen eTAM (Week 18, WC 24 April 2022)
In w/c 24th April 1,117.6 million minutes of BVOD content was consumed, reaching 6 million nationally. This was a lower than average week in terms of BVOD reach, likely due to the public holiday.
Seven and Nine dominated the top 10 programs. Seven held 5 of the top 10 programs, driven by the launch of The Voice with Episode 1 being the number 1 program for the week and a BVOD audience of 140K. Nine held 4 of the top 10 programs, driven by Lego Masters. Network Ten had one program in in top 10 (number 9) which was the launch episode of MasterChef, delivering an audience of 84K.