Out-of-home (OOH) industry figures are maintaining consecutive surges in revenue after its July earnings trumped the previous year’s by 14 per cent.
Net revenue for OOH in the month of July hit a resounding target of $57.2m, a significant jump from the same period last year’s $50m.
Year-to-date earnings for the booming industry reached $418.5m, tracking up by 18 per cent from last year’s $354m.
Whilst static print media maintains its place as the highest earning category against digital, electronic billboard revenue managed to make up 37.8 per cent of, a 13 per cent increase from last year.
The figures are on track to smash last year’s recording breaking total revenue of $677.8m, which bulldozed 2014’s yearly revenue by almost $100m.
Category breakdowns see roadside billboards delivering majority revenue for the month at $21.8m, followed by street furniture, taxis, bus and tram externals at $17.1m.
Several of the OOH industry’s biggest players are gearing up for a stellar 2016 with multiple acquisitions making room for wider industry consolidation.
Earlier this month APN Outdoor confirmed plans to complete a double acquisition, set to takeover Queensland’s Metrospace Outdoor Advertising and Independent Outdoor Media.
The two deals are worth some $32m and are slated to complement APN’s push into the digital realm with accelerated roll outs of electronic screens.
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