OMA: 2023 financial results show growth in all categories

The OMA's full-year net media revenue results for the out of home (OOH) industry have shown a total increase of 12.23% on net media revenue in 2023.

This week, the category breakdowns have been released.

OOH Category Results for 2023:

Roadside Billboards (over and under 25 square metres)
$507.8 million

Roadside Other (street furniture, bus/tram externals, small format)
$271.3 million

Transport (including airports)
$140.8 million

Retail, Lifestyle and Other
$273.8 million

OOH Category Results for 2022:

Roadside Billboards (over and under 25 square metres)
$466.5 million

Roadside Other (street furniture, bus/tram externals, small format)
$238.6 million

Transport (including airports)
$100.7 million

Retail, Lifestyle and Other
$257.9 million

See Also: OMA: Out of Home industry revenue up 12.2% for 2023

Net media revenue for 2023 increased to $1,193.7 million, up from $1,063.6 million for 2022.

Digital out of home (DOOH) revenue accounts for 73.9% of total net media revenue year-to-date, an increase over the recorded 64.5% for the same period last year.

When the results were published, OMA CEO Elizabeth McIntyre said, “In 2023, we have seen our members invest into the future of the Out of Home channel, with the launch of OASIS, the boom of Programmatic buying and the development of MOVE2. This is a testament to our industry’s commitment to offering transparency and accountability for every dollar spent on OOH."

Reflecting on the results, Ben Baker, managing director, APAC at Vistar Media said "The ongoing growth of the OOH market comes as no surprise to anyone working in the industry. OOH continues to deliver significant results for marketers so more brands are taking advantage of the channel every day.

"Programmatic OOH is surging ahead showing a commitment to measurable impact for every ad placed. With the targeted, dynamic solutions that this technology offers, we expect to see it continue to grow in influence every quarter. It was especially telling to see that DOOH revenue accounts for 73.9% of total net media revenue year-to-date, a 9% increase for the same period last year. This proves that brands are finding value and investing in the offerings from DOOH."

Earlier this year, Mediaweek spoke with oOh! Media CEO Cathy O’Connor who said out-of-home is “equally a great companion to television.”

O’Connor says OOH is already growing at television’s expense. “We’re [oOh! Media] the largest player in out of home. So obviously, we stand to benefit the most when out of home grows … I think we’ll have to see how radio goes over the next couple of years to see if the same applies to them,” she said.

In 2023, Guideline SMI’s figures showed that television was down 13.9%, radio down 5.9%, and outdoor up 15.1%.

See Also: OOH and radio “will both grow at television’s expense”: Cathy O’Connor