In today’s ever-changing world of TV advertising, it’s crucial to stay ahead of the trends. Insights from the “Future of TV Advertising” event in Australia gave us a glimpse into where the industry is heading, highlighting the newest trends and key topics shaping our media scene.
Pioneering advancements in Australian TV advertising
TV advertising in Australia is transforming, primarily fueled by technological advancements that are changing the dynamics of brand-audience interaction. From the traditional realm of linear television to the changing landscape of digital streaming platforms, advertisers are exploring novel avenues to engage with their target demographics.
At the event, I engaged with several senior media owners and buyers who underscored the importance of strategies and technologies to steer this transformation forward.
Addressable advertising’s ascent, programmatic buying, and the fusion of data analytics to tailor ad experiences emerged as central themes in many of my conversations. These advancements not only bolster targeting precision but also optimise return on investment (ROI) for marketers aiming to make a significant impact in the Australian market.
The vital role of measurement with VoZ
A central theme of the event was the crucial role of measurement in today’s fragmented media environment. With the advent of Virtual Australia (VoZ), an initiative spearheaded by OzTAM, Nielsen, and Australian TV networks, marketers now have access to comprehensive cross-platform measurement data.
VoZ will revolutionise how marketers evaluate the effectiveness of their campaigns across linear and digital TV. By furnishing a unified currency for measuring audience reach and engagement, VoZ empowers marketers to make data-driven decisions that maximise their advertising investments. This newfound transparency and clarity bring more accountability and efficiency in the Australian TV advertising landscape.
“We’re working closely with Neilson to build technology for the future, especially with the rise of streaming TV. We’ve got 3,000 smart TV meters installed in Australia now. The ambition is to have 5,000 installed by Q3 or Q4 this year.”
Karen Halligan, CEO, OzTam
Forging a unified currency for linear and digital TV
A key topic of discussion at the event was measurement and how one single currency used to measure both linear and digital TV, will have a positive impact on the industry at large. As consumer change their consumption and viewing habits, standardising measurement metrics is imperative for accurately assessing campaign performance and optimising media spend.
“We are at risk with introducing multi-currency for measurement because not all measurement is created equally. I worry that we’re supplementing the gold standard of measurement and understanding audiences for fancy dashboards. As an industry, all long-form premium content providers need to work together to provide that seamless view when it comes to measurement because we’ll all benefit from it.”
Nick Young, commercial director for digital, Nine
It was interesting to hear his opinion on harmonising measurement standards across all platforms, because ultimately everyone stands to benefit—from content creators to marketers—and gain comprehensive insights into audience behaviour and preferences. Seamless integration between traditional TV advertising and digital streaming services, enables brands to orchestrate cohesive, multi-channel campaigns that resonate with viewers across the spectrum.
Enhancing the viewing experience for all
During conversations about technological progress and data-driven approaches, a shared objective became apparent: enhancing the audience’s viewing experience across the country. This is something we discussed during my panel alongside Publica, Nine, Magna, and Nexus.
Ultimately, whether consumers are immersed in live broadcasts on linear TV or indulging in their favourite on-demand content, marketers should be dedicated to providing pertinent, engaging ad experiences that enhance the viewing experience
Through creative storytelling, personalised targeting, and seamless integration, marketers aim to create a more immersive and enjoyable viewing environment. Leveraging the latest technologies and insights, they strive to forge deeper connections with audiences, driving brand affinity and loyalty in a fiercely competitive landscape.
Overall, the event highlighted the trends that are shaping the Australian TV advertising industry. It’s clear that the industry is embracing innovation to elevate the advertising experience for all, advancing measurement and targeting and pursuing a unified currency. As the landscape continues to evolve, unlocking the full potential of television advertising in Australia and beyond will require collaboration, creativity, and an unwavering focus on audience-centricity.
