Media update of the week
Streaming service Paramount+ has partnered with Formula 1 globally for the 2023-24 season, with promotional spots across races around the world, including the Melbourne Grand Prix.
The partnership will see series and movies on Paramount+ made available in Fan Zone areas and celebrities making real-life appearances. The partnership includes Paramount+ branding on track and physical trackside signage, digital sponsorships, and promotional opportunities, which started in Melbourne, and will be followed by activity in Miami, Montréal, Austria, Silverstone, Monza, Suzuka, Austin, Mexico City, São Paulo and Las Vegas.
The parent company of Paramount+, Paramount, also owns Network Ten in Australia, which holds the exclusive free-to-air broadcast rights to the Australian Grand Prix, while pay TV provider Foxtel and its streaming service Kayo have all races on livestream and playback.
Formula 1 has grown in popularity in recent years and has no longer got a male dominated tag to the sport, in which females are consuming more Formula 1 on TV and on socials than ever before. A massive reason for the spike in popularity is Drive to Survive. The TV show was released in March 2019 and now has 50 episodes to its name.
The appeal of Formula 1 has broadened substantially in the last few years, with fly-on-the-wall series Drive to Survive opening up the previously Byzantine world of Formula One politics and on-track tactics to new audiences, and revealed the characters of the charismatic young men behind the wheel.
The “Netflix effect” has been lauded by the sport’s administrators overseas. Sports Illustrated reported American TV viewership was up by 53 per cent last year, Australian figures on Foxtel were up by a third and a Nielsen Sports survey in 10 countries suggested the sport gained 73 million new fans in the year to March last year, three-quarters of whom were aged younger than 35.
Many of these new fans are women, who comprised 40 per cent of this year’s ticket sales compared with 25 per cent in years past.
ANZ-Roy Morgan Consumer Confidence has risen by 1.1 points to 79.3 in July this week after the RBA paused a run of ten consecutive interest rate increases last week. The index has now increased 2.8pts from its mid-March low of 76.5 – the lowest it has been since early in the pandemic. However, this is the sixth week in a row the index has been below the mark of 80 – the longest stretch below 80 since the index began being conducted on a weekly basis in October 2008. The last time Consumer Confidence spent at least six weeks under 80 was during the 1990-91 recession when the index was conducted monthly.
Consumer Confidence is now 15.3pts below the same week a year ago, April 4-10, 2022 (94.6) and 1.9pts below the 2023 weekly average of 81.2. Consumer Confidence was up in most States including Victoria, Queensland, Western Australia, and South Australia, but down slightly in NSW. The driver of this week’s increase was improved buying sentiment with more Australians saying now is a ‘good time to buy’ major household items following the RBA’s decision to pause interest rate increases while there was little change in views on personal finances or the Australian economy.
Network Seven won the second week of Easter non-ratings led by Seven News at 937,000 metro viewers. Farmer Wants a Wife led the reality battle at launch: 630,000 followed by Lego Masters Launch with 501,000 and I’m a Celebrity Get Me Out of Here 471,000. Seven led from Monday – Saturday, with Nine claiming Sunday.
Amazingly, Eddie McGuire’s Millionaire Hot Seat has reached 2,500 episodes which he admits it “probably broke me in a big way, nationally”. Eddie reveals that it was a different stamp to The Footy Show and “It’s a lot of time of your life, you want to be enjoying it, otherwise, it’s too hard. But for me, I’m still naturally inquisitive. I really like people. When I meet them, everyone’s got a story”.
Hot Seat has also held its own against competition including Deal or No Deal, Million Dollar Minute, The Chase and 10 News First. In the 2500th episode, hosts from around the world sent their congratulatory messages to McGuire via video. Nine’s host has asked over 50,000 questions of 15,000 contestants. While just two people have won the million dollars, and 34 contestants have won $250,000, the show has given away more than $60 million.
In the week up to the 17th of April, 1,146.8 million minutes of BVOD content was consumed, reaching 6.8 million people nationally.
The Top 10 programs consisted of six programs, Alone Australia Season 1, Farmer Wants A Wife, I’m a Celebrity…Get Me Out Of Here!, The Claremont Murders, Lego masters Season 5 and Home & Away. SBS came out on top this week with gaining the top two spots: Alone Australia Season 1 Episode 3 and 4. Seven’s Farmer Wants A Wife continues to rate highly amongst the BVOD audience sitting in 3rd, 4th and 5th position.
Overall, BVOD is currently still skewing to the female demographic of 40-54.
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