The Out of Home (OOH) industry has reached a full year net media revenue of $927.2m for the FY 2018, growing 10.8 per cent from $837.1m in 2017.

Quarter four 2018 saw an increase of 9.8 per cent on net media revenue year-on-year, posting $277.5m, up from $252.8m for quarter four 2017.

Digital revenue accounts for 52.3 per cent of total net media revenue year-to-date, an increase over the recorded 47.3 per cent for the same period last year.

Charmaine Moldrich, CEO, OMA, says,“We are thrilled to mark industry growth for the ninth consecutive year, demonstrating that advertisers and agencies trust in OOH’s increasing ability to connect brands with our growing audience.”

The new figures mark the start of a change in how the OMA reports its revenue numbers, due to recent changes in ownership in the OOH industry which may trigger compliance issues for the OMA’s ASX-listed members.

Moldrich explains, “Reporting as we did previously, opens the possibility for the market to interpret individual company performance prior to it being announced publicly.”

The figures used to include a detailed breakdown by sectors, however with most of OOH work now completed by two companies, JCDecaux, which absorbed APN, and oOh!media, which absorbed Adshel, the figures may give too many indications as to how the duo performed.

The OMA will now make four quarterly announcements of total aggregated industry data, including the proportion of digital revenue. In these releases there will be no category breakdowns reported.

Moldrich says, “The OMA will make two additional market announcements following the release of results by listed members to the public. These announcements will be made twice-yearly after half and full year results are announced and will include the category breakdowns.”

Comment below to have your say on this story.

If you have a news story or tip-off, get in touch at editorial@sprinter.com.au.  

Sign up to the Sprinter newsletter