Darren McKenzie, CEO of McKenzie Partners, gives you the run-down on this booming platform.
In 2020, it appears that flicking between TV platforms is the activity du jour. It’s 9Now one minute, Netflix the next, as our demand for content skyrockets. Unsurprisingly, ThinkTV figures suggest that Catch Up TV consumption is currently up 26% compared to pre-lockdown numbers. With the ability to tailor your message and your budget, Catch Up is a great way for brands to garner attention in this challenging period.
But first, let’s go back to the basics because there’s often confusion about what Catch Up actually encompasses. In short, it refers to TV viewed on a computer, mobile device, Connected TV or set-top box. As the name suggests, it’s typically viewed after the original on-air date. It’s also commonly referred to as Broadcast Video on Demand (BVOD). In Australia, this includes platforms like 9Now, 7plus and 10 Play. This differs from Subscription Video on Demand (SVOD), which are your platforms like Netflix, Stan and Disney+.
Catch Up TV originally hit the Australian media landscape in 2008 with the launch of ABC’s iView. The other major broadcasters gradually introduced their own offerings over the following decade.
While it started small, Catch Up TV is no longer a niche medium. In fact, data shows that 23.5% of Australians watch BVOD every week, that’s around 6 million people. The medium is also experiencing spectacular growth. In 2019, the total hours spent watching BVOD increased by 35% in the first half of the year, compared to the previous six months, while advertising revenue increased by 38.9% from January to December. As indicated, Catch Up TV consumption has only increased further during lockdown.
Perhaps more importantly, that growing audience can be targeted very effectively when advertising. That includes behavioural, geographical and demographic targeting, as well as the ability to target ‘in market’ audiences. For example, Catch Up TV allows you to only target the postcodes relevant to your particular business. You’re also able to layer a user’s intent, to some degree, based on their browsing habits.
Catch Up essentially flips the TV advertising model on its head. It’s not about targeting a group of viewers of a particular TV show, it’s really about building a persona for each viewer.
In a data-driven world, Catch Up also has the advantage of highly accurate reporting capabilities. Beyond the viewer numbers of traditional TV, you’re able to ascertain a clearer picture of the impressions, frequency, reach and more.
Of course, traditional linear TV and Catch Up can both be effective. 18.28 million Australians tune in to linear TV every week, which far eclipses Catch Up and makes it an incredibly powerful medium. Plus, there are currently hugely discounted TV opportunities, which make traditional TV far more accessible than it was pre-pandemic. Traditional also has the potential to capture an older demographic who may not use a Connected TV.
Ultimately, your choice depends on your customer and the goals you have for your campaign. However, we believe Catch Up is always worth considering – it’s targeted, cost effective and achieves great outcomes for our clients.
At McKenzie Partners, we specialise in Catch Up TV. We are currently working with over 100 advertisers across all industries. If you’re a brand who wants to get greater exposure at a reasonable price or an agency looking to advertise on behalf of your client, get in touch!