Digital now accounts for more than half of all revenue from outdoor advertising, reaching 50.5 per cent of the total in Q3, from 46 per cent in the previous corresponding period, according to the latest figures from the Outdoor Media Association (OMA).
The outdoor market as whole continues to grow, with OMA noting an increase of 10.7 per cent on net media revenue year-on-year in the third quarter of 2018, posting $221.2m, up from $199.9m for the third quarter in 2017.
In dollar terms, there was $109.49m in print revenue for Q3, from $107.94m, so within the $21m in growth from the previous year, some $2m came from print.
Charmaine Moldrich, CEO, OMA, says, “Our continued growth is the result of OOH’s ability to work at the top of the brand funnel, building brand equity, fame, and reaching massive audiences. These benefits, in unison with our digital signs, which offer flexibility to deliver tactical and dynamic messages, provide a powerful solution for advertisers.”
In an interview with Australian Printer in September, oOh!media CEO Brendon Cook said he believed the split between print and digital for outdoor to stabilise around 60-70 per cent digital, with the remaining 30-40 per cent coming from print.
Like the market broadly, oOh!media saw a rise in its print revenues this year, with Cook noting, “Our classic revenues were up in the first half of this year. I was not surprised, we have always said if keep growing the volume of revenue, the value of classic has always been there. It sells a lot of products for clients.”
Breaking down the total revenue by segment, Roadside Billboards accounted for $89.2m, Roadside Other (including street furniture, bus/tram externals, small format) accounted for $60.3m, Transport accounted for $39.5m, while the Retail, Lifestyle and Other segment accounted for the remaining $32.2m.
Most of the $22.1m in growth came from Roadside Billboards, which had increased $10m from the previous corresponding period, and Transport, which increased by $9m.
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