The out-of-home (OOH) industry has logged a $23m jump in its third quarter earnings for 2016, ending September with $185m, up from $162m in the same period last year.

Monthly growth continues to skyrocket, with a total of $66m in net media revenue for the quarter and a 9.3 per cent leap for September.

Financial power for OOH remains evident in all its categories across print and digital, roadside billboards bringing home majority of the bacon with $69m generated in the three-month period.

The strongest growth is coming from digital revenue, which now sits at a remarkable 38 per cent of total net earnings, jumping by 13 per cent compared to the same period in 2015.

Charmaine Moldrich, chief executive of industry body Outdoor Media Association (OMA), says audiences are growing alongside earnings, and asserts the dynamic nature of OOH advertising is the key to the industry’s success.

“Not only is revenue growing, but OOH audiences are growing too. In the past six years, OOH audiences have grown by 20 per cent, over indexing against population growth at 13 per cent,” says Moldrich.

“It is this growth, coupled with OOH advertising’s ubiquity, its ability to offer cities utility, and the new brand values digital offers – immediacy and flexibility, that makes OOH an obvious choice for advertisers.”

OOH’s pattern for financial growth follow’s July and August’s resounding success, with July hitting an earnings target of $57.2m, and the industry posting a record August at $62m. 

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