oOh!media reports revenue growth in first quarter at AGM

oOh!media has reported revenue growth in the first quarter of the year at their Annual General Meeting on Thursday.

The media company had 15% growth in the March quarter, which is consistent with what was predicted in February.

April paced slightly stronger at +18%, however, May is expected to be impacted by the election – out of home does not benefit from the election in contrast to other media because of landlord restrictions on political advertising.

oOh! also reported a strong performance in road, street furniture and retail at +14% above 2019 April

Cathy O'Connor said in her address: "However, by the end of 2021, with a largely vaccinated population and a lifting of government restrictions, we saw an immediate audience and revenue rebound in key formats of Road, Retail and Street furniture.

"This in turn led to an acceleration of media spend share gain in Q1 this year. As we stand here today in Q2, the Out of Home industry is continuing to go from strength to strength.

"The sector’s industry body, the OMA now encompasses all key industry players. This demonstrates an intent to work together to advance the sector and it leads to a consistency of approach to the planning effectiveness of campaigns such that has not existed in the recent past." 

O'Connor added: "The OOH media sector is returning to growth, and we can be very confident that OOH will continue to gain share of the overall media pie."

This comes after oOh!media has announced changes to its executive leadership team.

Noel Cook, chief commercial and operations officer, has announced his intention to depart the company after more than 30 years to pursue other interests outside the outdoor industry.

Robbie Dery will step into the role of chief commercial operating officer. Dery joined oOh!media in 2008 to lead the company’s Fly division