The Out-of-Home (OOH) industry has maintained its steadfast revenue spike with an 18 per cent year-on-year revenue increase for the first quarter of 2016.
The Outdoor Media Association (OMA) posted the industry’s revenue for the first quarter at $177.1m, up significantly from $149.8m in the same period last year.
The OMA says this quarter’s results follow OOH’s trend of ‘all time high’ figures and trails a string of monthly increases for 2016 including a 19.6 per cent rise for the month of March to $70m.
[Related: Ooh! revenue spike]
According to OMA chief executive Charmaine Moldrich, the bolstered financial results for the OOH industry is a combination of print and digital formats including billboards, street furniture and transport display print.
“It’s 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,” says Moldrich.
“Outdoor is equipped to meet these needs and the results of our first quarter in 2016 reflect this. OOH can connect advertisers with their audience anywhere, anytime, whether via a traditional outdoor poster, a digital screen or a merging of the two.”
A breakdown of figures saw roadside billboards coming out on top, delivering $65.6m to the overall revenue, while bus and taxi externals and street furniture logged $54.6m.
All of the categories were up by a significant margin from the first quarter of 2015.
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