The Out of Home (OOH) industry has seen an increase of 24 per cent on net media revenue for 2021, reporting $812.7 million in revenue, up from $655.2 million in 2020.
The Outdoor Media Association (OMA) found that quarter four 2021 saw an increase of 13.3 per cent on net media revenue year-on-year, posting a revenue of $247.6 million – up from $218.6 million for quarter four 2020.
Digital OOH (DOOH) revenue accounted for 58.8 per cent of total net media revenue year-to-date, an increase over the recorded 55.2 per cent for the same period last year.
However, OMA identified that net revenue year-to-date still trails pre-pandemic results, down 17.3 per cent on the reported $982.3 million for 2019.
OMA CEO Charmaine Moldrich said, “We began the year cautiously optimistic for industry recovery, and while the second wave of lockdowns mid-May stymied momentum, revenue consistently tracked above 2020 levels. What’s more, December’s results mark the first month since revenue has risen beyond pre-pandemic levels, up seven per cent from December 2019.
“We’ve taken this time as an industry to bolster our platforms and processes to make OOH easier to plan and buy campaigns and measure their impact. Launched on 31 January, MOVE 1.5 and our Industry standards provide a world-first for buyers.
“And, importantly, with the OMA and MOVE attracting new members with the addition of Scentre Group, Tonic Media Network, and Hivestack this month, this means we now represent close to 100 per cent of the industry in Australia.”
OMA also attributed findings by Zenith, which stated that Australian advertising spend is expected to grow by five per cent in 2022, off the back of 18 per cent growth in 2021.
It also pointed out findings from the ANZ-Roy Morgan Consumer Confidence, which saw a small drop in financial spend the first week of January, down 2.4 points to 106.0. Confidence in future financial conditions remained unchanged however, with 38 per cent of Australians expect they will be ‘better off’ financially this time next year.
“What this shows is people are still optimistic about the future, and this sets us up for another bounce back when the situation stabilises further. This is good news, and advertisers should be confident in Out of Home’s ability to deliver audiences particularly in transport, retail and roadside environments and continue to leverage the channel’s impact and creative potential,” Moldrich added.
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