The Out-of-Home (OOH) industry’s first quarter results has seen year-on-year net revenue surge by 18.2 per cent, which represents a $27m boost compared to first quarter 2015. Digital accounted for 35.6 per cent of this revenue, which is a 20.2 per cent growth from this time last year. However, Charmaine Moldrich, CEO of the Outdoor Media Association says print still provides the majority of OOH revenue, accounting for about two thirds.
Print still accounts for 65 per cent of OOH revenue
She says, “Around 65 per cent of OOH’s income is still coming from print based formats. We have seen all formats grow, not just one, and we are not seeing a decline in print from the growth of digital.” Monthly revenue results for 2016 show a 13.4 per cent growth for January, and 20.7 per cent for February year-on-year. While March received a 19.6 per cent boost year-on-year. A breakdown of category figures shows revenue increase across the board with Roadside Billboards surging 22 per cent in comparison to 2015. Roadside Other (street furniture, taxis) saw a 15 percent increase, Transport (airports) received a nine percent boost, and Retail revenue jumped by 25 per cent. Moldrich says leveraging the benefit of location in advertising has been the key driver of OOH’s growth. She explains, “We are showing advertisers our research which suggests that utilising location is a great way to sell products and services in this fragmented market. “It is evident that advertisers big and small are looking for a media channel that can build awareness, drive desire, trial and transaction, all while complementing other media channels, especially in this changing media landscape.” Moldrich says the growth OOH has experienced this quarter, in addition to its 17 per cent overall revenue growth last year proves outdoor is equipped to meet the evolving nature of the industry moving forward.
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