A third of the economic contribution of Australia’s broadcasting industry, totalling $2.9 billion, springs from pay television and streaming as per a new report from Australian Subscription Television and Radio Association.
ASTRA’s Economic Contribution Report for the 2024 financial year, which was completed by Deloitte Access Economics, highlights the subscription TV sector’s fiscal impact, as well as Australian viewing habits when it comes to paid television content.
In 2023–24, the equivalent of 17,000 full-time jobs were supported by subscription television in Australia. Also, 91 percent of Australians watched online video content in any given week, with each household subscribing to an average of 4.3 services in 2024 — up from 3.6 services per household in 2023.
That $2.9 billion figure is an increase in value of 2.7 percent since 2022, while the jobs number also represents an eight-percent growth in employment over the same period.
Supported by ASTRA members such as BBC Worldwide Australia and New Zealand, Foxtel Group, ESPN Australia and Warner Bros. Discovery, the report also notes an uptick in watching pay television and streaming, from 29 percent in 2017 to 69 percent in 2024. Australian viewers sat down to 826 million hours of subscription TV content in the period covered, with 1.1 million hours of content distributed, increasing by 31 percent in 2022.
Sports leads the charge in terms of what audiences are viewing, followed by news, documentaries and factual programming; light entertainment; and drama.
Viewers aged 35 and over have helped drive subscription TV’s growing popularity, primarily via YouTube, Netflix, Facebook, Prime Video and Disney+, as well as through Foxtel Now/Foxtel Go, Binge and Kayo.
“Subscription television is the quiet achiever of the Australian broadcast industry. It contributes one-third of the economic value added of the industry and is a major driver of investment, innovation and choice for Australian audiences,” said ASTRA Chairman Patrick Delany.
“What this report makes clear is that we are in the midst of a media revolution in which Australians are now choosing subscription television first, based on its premium content, world-class coverage, and viewing experiences tailored to today’s audience viewing habits.”
“The investment being made by subscription television not only gives audiences access to the sport, blockbuster entertainment and trusted news they love, but it makes a significant contribution to local jobs, local production, and underpins Australia’s creative sector.”
Read the full ASTRA Economic Contribution Report online.