SYDNEY, Australia, Aug. 02, 2023 (GLOBE NEWSWIRE) -- Magnite (NASDAQ: MGNI), the world’s largest independent sell-side advertising company, released its latest research study, “Streaming TV’s New Era: How Ads Are Powering Streaming’s Future in Australia.” The study finds 65% of TV viewers watch ad-supported streaming in the country and the effectiveness of TV advertising, including streaming, drives a high level of trust and recall. Among ad-supported viewers, 83% trust the ads they see within TV and streaming services, compared to 58% of social media users who trust ads, including video ads, within social. In addition, 57% of ad-supported streamers remember ads the most within TV (including streaming services).
The research finds Australian streaming audiences are leaned into streaming content, and that it captures audience attention better than social media. 92% of ad-supported streamers view streaming content for more than 30 minutes each time they tune in and those who only watch ad-supported streaming are watching over 2 hours a day, on average. Comparatively, the majority of social media users1 (70%) state they launch social media apps multiple times throughout the day and each session is brief, lasting just a few minutes.
“We’re witnessing a transformation of the TV landscape as ad-supported streaming viewership is achieving scale throughout Australia and almost as many consumers are watching TV shows on streaming services with ads as traditional TV,” said Juliette Stead, Head of JAPAC at Magnite. “Streaming TV’s immersive viewing environment captures viewers’ attention for longer periods than social media and wins in terms of ad attention and recall, making this an effective channel brands should be actively exploring.”
Key findings from Magnite’s study include:
- Streaming services with ads are continuing to attract new audiences - 55% of non-streamers would likely use a new free or reduced-rate service with ads and 63% of paid, ad-free streamers are happy to see ads in order to lower their monthly streaming service bills.
- Streaming services have become indispensable to ad-supported viewers in Australia. 77% of ad-supported streamers consider streaming services a must-have in their household and 48% said they are watching more streaming content than the year prior, compared to just 5% who are watching less.
- Australian streamers are consuming TV content on multiple screens and exposure to brands across multiple devices drives purchasing intent. 69% of ad-supported streamers are more likely to make a purchase from a brand that they engaged with across multiple devices.
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Methodology
Magnite engaged Harris Interactive to execute an online survey of 1,242 respondents in Australia from May 24 - June 1, 2023. The respondents are people ages 16-74 who watch 7+ hours of TV (including streaming) a week.
About Magnite
We’re Magnite (NASDAQ: MGNI), the world’s largest independent sell-side advertising company. Publishers use our technology to monetize their content across all screens and formats including CTV, online video, display, and audio. The world's leading agencies and brands trust our platform to access brand-safe, high-quality ad inventory and execute billions of advertising transactions each month. Anchored in bustling New York City, sunny Los Angeles, mile high Denver, historic London, colorful Singapore, and down under in Sydney, Magnite has offices across North America, EMEA, LATAM, and APAC.
Media Contact:
Einsteinz Communications
Carlotta Vittori
carlotta@einsteinz.com.au
0449 207 228
1Social media users are those who use one or more of the following platforms: YouTube, Facebook, Instagram, Snapchat, TikTok or Twitter
