Telly executives are touting healthy growth figures in the year to date and they're counting on revenues to rise further with key events such as Rugby World Cup and the election still to come.
According to ThinkTV – a joint initiative of TVNZ and MediaWorks – TV ad revenues hit $613 million in the 12 months to June 30, up from $583 million for the previous year.
The free-to-air television industry body says this translated into growth of 5.1 percent and is a "strong indicator of the confidence advertisers place on the medium as the economic recovery begins to take hold".
While March quarter revenues took a hit from the earthquakes in Christchurch and subsequent events, growth made a resurgence in the June quarter.
Chief executive Rick Friesen says television still provides unparalleled reach and impact.
"Advertisers recognise this and, with the building confidence in the economy, television is best able to provide major brand marketers with the most efficient way to reach their customers.”
Figures were sourced from returns prepared by TVNZ, MediaWorks TV and Sky (including Prime).
Despite the growing number of screens competing for viewers’ attention, a recent PriceWaterhouseCoopers report on the media industry concluded television as a medium still wields significant power, with Kiwis watching more than three hours a day on average.
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