Real-time media monitoring provider Streem today released its State of Australia’s Media Report for August 2022, exploring ten key media industry trends from 2022 so far.
Investigating issues such as the impact of the new federal government on the media industry, slowing advertising spend growth, potential industry consolidation, and more, the report is a must read for media professionals. communications and corporate affairs in Australia.
Streem Communications Manager Jack McLintock said: “2022 has been an important year for the Australian media industry so far, with the change in government and global headwinds rapidly changing the media environment. With major issues such as broadcast rights to major sports and an overhaul of the news media’s trading code still to come this year, the report is designed to better position communications professionals to stay ahead of the game. .
Some of the key insights from the report included, with social media emerging as a predictor ahead of traditional media, as demonstrated by the 2022 federal election, the changing news consumption patterns of Australians, including their platform -form of choice and their confidence in the news; and consumption of SVOD content in Australia versus global subscription video trends.
For the first time in its history, Netflix lost subscribers, with slower subscriber growth also experienced by Disney+ and other streaming services around the world.
The report cites earlier published data that in Australia, slowing subscriber growth has not translated into a decline in audience share. A recent ACMA report highlighted that for the first time more Australians were watching SVOD services than free-to-air TV, a key tipping point in how audiences view content.
Basically, the decline in free TV audiences is faster than the growth of SVOD services and is not compensated by the growth of BVOD services.
The report also said that Australia’s radio landscape has remained largely unchanged in recent times. Radio ratings surveys have tended to confirm existing trends and patterns, with considerable stability relative to television ratings.
Beyond exploring changes to traditional media, the Digital News Report 2022 also looked at the prevalence of social media as a news source. 31% of respondents identified Facebook as a news source they used, with 19% saying they use YouTube for news, followed by Instagram at 11%. Considering that no online news publication came within 5% of Facebook as a news source, it’s clear that social media is a big driver of how people consume news. .
In fact, according to the media monitoring platform, Streem’s own data supports the idea that social media is now more predictive than traditional news sources. Analysis of media coverage and discussions on social media during the 2022 federal election showed that topics and issues discussed on social media were significantly more predictive of issues influencing voters than those discussed in traditional media.