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The Australian entertainment and media market is a dynamic and growing industry, valued at $65.3 billion in 2021. The market is expected to continue to grow at a compound annual growth rate (CAGR) of 4.15% through to 2026.
Rising consumer spending: Australian consumers are spending more on entertainment and media than ever before. This is being driven by a number of factors, including the increasing popularity of streaming services, the growth of mobile gaming, and the rise of social media.
Strong advertising market: The Australian advertising market is expected to grow at a CAGR of 2.4% through to 2026. This is being driven by a number of factors, including the growth of digital advertising and the increasing importance of data-driven marketing.
The Australian government is a significant purchaser of entertainment and media products and services. In 2021, the Australian government spent $2.1 billion on entertainment and media products and services.
The main entertainment and media products and services procured by the Australian government include:
Film and television production: The Australian government supports the production of Australian film and television content through a number of funding programs. The government also procures film and television production services for its own use.
Broadcasting: The Australian government owns and operates the Australian Broadcasting Corporation (ABC), which is the national broadcaster for Australia. The government also procures broadcasting services for its own use.
Digital media: The Australian government uses digital media to communicate with citizens and to deliver services. The government also procures digital media products and services for its own use.
The top authorities for Australia entertainment and media procurement include:
Department of Communications and the Arts: The Department of Communications and the Arts is responsible for developing and implementing policies for the Australian entertainment and media industry. The department also procures entertainment and media products and services for the government.
Screen Australia: Screen Australia is a government agency that supports the production of Australian film and television content.
Special Broadcasting Service (SBS): SBS is a government-funded broadcaster that provides multilingual and multicultural broadcasting services in Australia.
The top winners of Australia entertainment and media procurement include:
Nine Entertainment Company: Nine Entertainment Company is a media company that owns a number of television channels, radio stations, and digital media brands.
News Corp Australia: News Corp Australia is a media company that owns a number of newspapers, magazines, and digital media brands.
Seven West Media: Seven West Media is a media company that owns a number of television channels, radio stations, and digital media brands.
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