OMA report shows 11.9 per cent rise in revenue for OOH industry
OMA CEO Elizabeth McIntyre said: "Our continued robust revenue growth shows advertisers’ trust in our channel"
The Outdoor Media Association (OMA) has released its report for Q2 2023 and found the Out of Home (OOH) industry has had an 11.9 per cent net media revenue increase.
According to the report, the Out of Home (OOH) industry $283.2 million, up from $253.1 million* for the same quarter in 2022.
Digital OOH (DOOH) revenue accounts for 68.1 per cent of total net media revenue year-to-date, an increase over the recorded 58.7 per cent* for the same period last year.
Year-to-date net revenue has increased 11.9 per cent per cent from the same time in 2022 and is $543.5 million.
OMA CEO Elizabeth McIntyre said: "Our continued robust revenue growth shows advertisers’ trust in our channel. It’s testament that our industry’s focus on clients and innovation is working."
The OMA added three new members in Q2: Stockland, one of Australia's largest diversified property groups; Certeq, an OOH supplier who specialises in large-scale IT and AV systems integration services; and Absen, a global provider of LED display solutions.
The leading media trade publication in Australia.
Get our top stories straight to your inbox daily by signing up to our Newsletter
"Our evolving strategy to build a stronger, more prosperous and resilient industry into the long term is working. We have several initiatives in the pipeline for 2023 and with the launch of MOVE 2.0 in 2024, there will be continued transformation for the channel," concluded McIntyre.
Certeq is an OOH supplier specialises in large-scale IT and AV systems integration services. Their rapidly growing portfolio across transport, retail and hospitality sectors in both Australia and abroad means they add value for their clients at all levels of the digital space.
S&J Media Group is a leading media company specialising in interior transit advertising on Melbourne Metro and Queensland Rail. With a strong focus on innovation and creativity, S&J Media Group advertises to the modern connected consumer when they are in a captive environment with time to engage.
Stockland, one of Australia’s largest diversified property groups, is also a natural fit for the OMA, with a portfolio of retail, workplace and logistics properties as well as masterplanned communities across the country. Stockland is uniquely positioned to offer advertisers prominent media space that will expand the suite of Out of Home (OOH) options for clients.
-
Top image: Elizabeth McIntyre
