Australia’s out-of-home (OOH) industry has reported a growth of 23.8 per cent in net revenue for the month of February, up to $48.3m compared to $39m last year. OOH also finished 2014 on a ‘record high’ at $602m, with an increase of 10 per cent on previous years’ growth.
Charmaine Moldrich, CEO of Outdoor Media Association, says the growth of the industry is due to the ‘effectiveness of the medium’. She says, “Nine out of ten people leave home each day, which means that Outdoor reaches more people on a daily basis than any other media. This is becoming more important as other media fragments.” She says the outdoor industry has ‘greatly benefitted’ from new technology, as well as new digital billboards which ‘shorten campaign lead-times and allow for more targeted messages’. OMA says it was a ‘strategic decision’ to release the figures for the month of February, which have been adjusted for 2014 revenue to reflect changes within categories, allowing direct comparisons in revenue year-on-year. Figures showed $16.6m revenue for billboards, and $16.2m for roadside other, which includes street furniture, taxis, bus/tram externals, small format. Transport including airport made $9.5m and retail accounted for six million dollars. Moldrich says, “Traditionally OOH has been used and seen as a mass medium for brand awareness, and now we have evidence that OOH also amplifies campaigns by creating desire, spurring search and inspiring transaction. “The broadcast quality of the medium combined with the potential for consumer engagement is what is driving the growth of the industry. She says industry is seeing a growth across all formats and also digital, but she says the biggest trends are in audience measurement and data. “Our audience measurement tool, Move, is currently analysing measurement methodologies for new formats and environments including train externals and place based locations. “Move will also continue to review what is happening around the world regarding visibility scoring across all formats, including digital, for any possible enhancements to the LTS (Likelihood to See) methodology.
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