Media - Australia | Statista Market Forecast

In Australia, revenue in the Media market is projected to reach US$24.36bn in 2024.
The largest market of this market is TV & Video, which is expected to have a market volume of US$10.24bn in 2024.
In a global context, the majority of revenue will be generated the United States, amounting to US$541.20bn in 2024.
Furthermore, in the Media market, it is anticipated that 50.43% of total revenues will be generated through digital Media market by 2029.
Australia's media landscape is increasingly dominated by digital platforms, as consumers seek more personalized and on-demand content experiences.

Definition:

The media market encompasses a diverse array of platforms and channels that facilitate the creation, distribution, and consumption of content, such as news, entertainment, and information. It includes traditional outlets like television, radio, and print publications, as well as digital platforms like social media, streaming services, and online news websites. This market plays a central role in shaping public discourse, cultural trends, and the dissemination of information on a global scale, making it a critical component of modern society.

Structure:

The market consists of several parts, namely Books, Games, Music, Radio & Podcasts, Newspapers & Magazines and TV & Video. These markets encompass digital and traditional revenues.

Additional Information:

The market comprises revenues, users, average revenue per user, penetration rates and advertising spendings. Revenues are generated through purchases, subscriptions, consumer spending or ad spendings. Key players of the market are companies, such as Netflix, Spotify, Activision or Amazon.
Market numbers for all the digital markets can also be found in the Digital Media topic.

Traditional media with non-digital revenues from TV, radio, music, print, and video games
Digital media with digital revenues from OTT video, music streaming, video games, digital versions of Newspapers & Magazines with ePapers & eMagazines, and eBooks

Movie theater ticket sales
Public licence fees collected in form of a tax (e.g. income tax in the Nordic countries)
Demo/trial versions
Esports & gaming advertising revenues

The Media market in Australia has been experiencing significant growth and development in recent years.

Customer preferences: Customers in Australia have shown a strong preference for digital media platforms, with a growing number of people consuming news, entertainment, and other forms of media through online channels. This shift in customer preferences can be attributed to the increasing availability of high-speed internet and the widespread adoption of smartphones and other mobile devices. Additionally, customers in Australia have shown a growing interest in personalized and on-demand content, as well as interactive and immersive experiences.

Trends in the market: One of the key trends in the media market in Australia is the rise of streaming services. Platforms like Netflix, Amazon Prime Video, and Disney+ have gained significant popularity among Australian consumers, who are increasingly opting for subscription-based services over traditional television. This trend is driven by the convenience and flexibility offered by streaming services, as well as the wide range of content available on these platforms. Another trend in the Australian media market is the growing dominance of social media. Platforms like Facebook, Instagram, and YouTube have become integral parts of the daily lives of many Australians, who use these platforms not only for socializing but also for consuming news, entertainment, and other forms of media. This trend has led to a shift in advertising budgets, with many companies allocating a significant portion of their marketing spend to social media advertising.

Local special circumstances: Australia's geography and population distribution present unique challenges and opportunities for the media market. The vast size of the country and the relatively small population in certain regions make it difficult for traditional media outlets to reach a wide audience. As a result, digital media platforms have gained popularity, as they offer a cost-effective way to reach consumers across the country. Additionally, Australia's multicultural society has led to a demand for diverse content that reflects the country's cultural diversity.

Underlying macroeconomic factors: The strong economic growth in Australia has contributed to the development of the media market. A robust economy has increased consumer spending power, allowing more Australians to afford digital devices and subscriptions to media services. Additionally, the high level of internet penetration in Australia has created a favorable environment for the growth of digital media platforms. In conclusion, the media market in Australia is experiencing significant growth and development, driven by customer preferences for digital media platforms, the rise of streaming services, the dominance of social media, and unique local circumstances. The strong economy and high internet penetration in Australia have also played a significant role in the development of the market.

Data coverage:

The data encompasses B2C enterprises. Figures are based on media spending (on traditional media as well as digital media). All monetary figures refer to consumer spending on digital goods or subscriptions in the respective segment. This spending factors in discounts, margins, and taxes.

Modeling approach / Market size:

Market sizes are determined through a bottom-up approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use annual financial reports of the market-leading companies and industry associations, third-party studies and reports, survey results from our primary research (e.g., Consumer Insights), as well as performance factors (e.g., user penetration, price per product, usage). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, number of internet users, and internet consumption. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption.

Additional notes:

The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development). Consumer Insights data is reweighted for representativeness.

This report presents a comprehensive analysis and additional information on the Advertising & Media market, in a PDF format.

Online video streaming has visibly transformed the global media landscape and impacted viewing behavior around the world. Driven by rapid leaps in internet adoption, widespread availability of mobile devices, and the ever-increasing popularity of online video content, the global video streaming market has experienced unprecedented growth in the last decade. In 2023, the over-the-top (OTT) video revenue reached an estimated 288 billion U.S. dollars, with the United States accounting for the largest share of revenue worldwide. Considering that the list of international streaming services and the catalog of online video content continue to expand at a rapid pace, the number of OTT users worldwide is expected to reach new heights in the future.