Has FTA TV ad revenue found its floor?

For over a decade, television advertising has been in structural decline, battered by digital disruption and shifting viewer habits. Yet, recent signals—particularly from Seven West Media—hint at a potential stabilisation. As Macquarie analysts suggest, we may be witnessing an "inflection point" where BVOD growth begins to offset free-to-air losses. The question remains: is this the start of a true rebound, or just a momentary pause? The answer depends on how effectively FTA networks can convert growing BVOD reach into viewing.