The television ad market was worth $4.2 billion in 2022, inching up by 1.2 per cent after strong growth in revenue from the TV networks’ streaming services, even though the market contracted by $83 million as advertising slowed in the second half of the year.

In the six months to December, revenue from services like 9Now, 7plus, 10play and Kayo, known as ‘broadcast video on-demand’ (BVOD) platforms, rose 10 per cent to $239.7 million, figures from KPMG released by industry body ThinkTV reveal. But that rise was overshadowed by a 6.4 per cent – $96 million – decline in metropolitan advertising to $1.4 billion.