Original article by Kylar Loussikian
The Australian Financial Review – Page: 17 : 30-Jul-24

A report from PwC notes that revenue across Australia’s media industry has risen to $62.3bn in the last year, although growth in revenue slowed from 6.6 per cent to just 2.8 per cent. Meanwhile, PwC estimates that digital revenue now accounts for 70 per cent of advertising spending in the media sector, compared with 54 per cent in 2019; the firm has also forecast that this will increase to 79 per cent by 2028. PwC in turn expects advertising revenues from traditional TV broadcasts to fall to around $3.5bn by 2028, while revenue from subscription and ‘catch-up’ services is forecast to rise to a similar level within four years.

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