The FY’23 owned media market in Australia is worth $3.9 billion in commercial potential, according to Sonder.
The independent owned media valuation business has released its Owned Media Market Report & Ranking for FY23, revealing the growth potential of the market and opportunities for various sectors.
Owned media
Owned media refers to a media asset that attracts an audience and can be used as a media vehicle for partner marketing communications.
It spans a vast array of channels and formats that an organisation controls and communicates through, including in-store, digital, data, publishing, infrastructure and people.
Petrol & convenience
The report notes that the P&C sector has had mixed success monetising owned media assets, with the primary focus being on the forecourt and fuel pumps.
“Digital screens and ambient media formats have been in market for many years now, however, the development of digitised instore experience and loyalty rewards schemes is opening powerful new opportunities for players in this category,” says Sonder.
“In the current market context, fostering loyalty is even more critical to success. Loyalty programs are a force multiplier when it comes to generating revenue because they can drive increased core business sales, improve customer experiences, deliver ancillary customer value via offers programs and increase owned media commercial potential.”
Untapped potential
The report highlights three ways organisations around the world are leveraging the potential of their owned media networks:
- Improved customer experiences via data leverage
- Improved commercial trading terms via representation of media value
- Highly profitable revenue stream via charging for media
To learn more about the potential of owned media leverage in your organisation, download the full report here.
