OOH dominates with Q2 revenue boost

The out of home (OOH) industry has continued to exceed expectations by posting an 18 per cent surge in net revenue to $184.4m for second quarter 2016, compared to the previous year’s $156.2m.

The industry has been on a high since the end of 2015 when it recorded a 17 per cent revenue increase over 2014. It has also experienced a continuous growth trend going into 2016, its first quarter results saw year-on-year net revenue surge by 18.2 per cent, representing a $27m boost compared to first quarter 2015.

Category figures for second quarter 2016 saw Roadside Billboards get a massive boost of 23 per cent to $69.4m compared to the previous year, Roadside Other jumped 12 per cent to $53.3m and both Transport and Retail gained an 8 per cent increase to reach revenues of $32m and $29.7m respectively.

Outdoor Media Association (OMA) CEO Charmaine Moldrich attributes the industry’s growth to its strategy of embracing new technology, with the OOH digital sector surging to 37.3 per cent of total revenue year-to-date compared to 23.1 per cent last year. 

“OOH audiences continue to grow in a time when other traditional media channel audiences decline, as consumers increasingly demand to be served advertising on their terms,” Moldrich says.

“Technology is enhancing the medium in ways that give it an edge over other media channels, such as short lead times, day parting, location based targeting, social amplification, multiple sequential messaging, thermal/weather triggers and countdown mechanics,” she continues. 

“But what makes OOH most powerful, is the combination of these attributes together with the bold creative canvas and scalability of the medium using traditional faces.”

 

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