The Australian out-of-home (OOH) industry is on track to trump its 2015 earnings as its October results find year-to-date revenue has topped $625m, a 16 per cent head start on last year’s final result.
Industry net revenue for the month of October hit $78m, up 10.5 per cent from last year’s earnings during the same month.
According to figures from peak industry body Outdoor Media Association (OMA), year-to-date revenue for 2016 is up 16.5 per cent from 2015 full year results.
[Related: OOH soars in third quarter revenue]
With two full months left of the year, the OOH industry is on track to trounce its 2015 results with a strong final revenue figure for 2016.
Print remains a powerful avenue for sales with outdoor companies, however digital revenue is inching closer to overtaking traditional media – now making up 38 per cent of total revenue compared to 25.6 per cent last year.
Category breakdowns found roadside billboards remain the most effective and lucrative form of outdoor advertising, generating $29m in revenue, followed by small-format advertising on buses, teams and street furniture at $21m.
Outdoor advertising at transport venues such as airports collected $14.5m, and retail locations generated $12.6m
Comment below to have your say on this story.
If you have a news story or tip-off, get in touch at [email protected]
Sign up to the Sprinter newsletter