Dentsu tips streaming giants to make 'profound' ad market inroads in 2024
Streaming video platforms operating in Australia are set to go into 2024 with an edge in the advertising market.
A growing push by local and international streaming services to adopt advertising could resonate with cost-conscious brands seeking exposure to premium audiences in 2024, in a development that may pressure the revenue base of traditional television networks.
That is one of the biggest conclusions to be drawn from global media agency Dentsu’s 2024 media outlook, which predicts the streaming video advertising market in Australia will provide brands with “profound possibilities” to reach coveted “ad resistant” audiences.
Amazon’s Prime Video and Paramount+ will next year join global leaders Netflix and Foxtel's Binge in offering consumers ad-supported subscription tiers, as part of a broader move by the platforms to generate more revenue in pursuit of profitability. Their impending arrival has already triggered a wave of excitement among advertisers.
Dentsu's analysts put the total reachable streaming audience in Australia at about 9.5 million daily users, with as many as 2.3 million between the ages of 25 and 34, and 2.6 million between the ages of 35 and 49. It’s a spread more representative of the Australian population in age than the audiences of free-to-air television, which skew heavily to older viewers.
