Outdoor print media revenue shrank in the past year, according to the latest data on out of home (OOH) media from the Outdoor Media Association (OMA), while digital surged ahead.
The OMA figures suggest print OOH media spend decreased by $30m or 7 per cent in 2017 compared to 2016 when it was $443m, while digital OOH advertising spend rose to almost half of total outdoor profit, up from 40 per cent to 47 per cent, or $393m.
Overall outdoor media spend was up by six per cent from the year before, an increase of about $48m from $789.5m to $837.1m.
OMA says digital OOH (DOOH) revenue accounted for revenue $393m, an increase from $315m for the same period the year before. This places the revenue increase for digital OOH at $78m for the year.
[Related: Outdoor digital creeping up]
Charmaine Moldrich, CEO of OMA says, “We know that OOH audiences have grown by 23 per cent over the last seven years, over-indexing population growth of 14.9 per cent. This continued wave of growth puts us in an enviable position as we head into the new year.”
Revenue was up for all OOH advertising across the categories of roadside billboards (from $296.4m the year before to $332.6m last year), roadside other, including street furniture and small format ($230.4m to $237.3m), and retail, lifestyle and other ($126.4m to $132.2m). However transport advertising revenue was down from $136.3m to $135m.
OOH net media revenue was generally higher for quarter four last year than for the year before. Notably it decreased for the retail and lifestyle category, from $43m in the last quarter to $41.4m the next.
Moldrich says, “As the OMA buckles up for an ambitious program in the lead up to its 80th birthday next year, I look forward to another exceptional year of growing and innovating the OOH industry in concert with members and the Board.”
The OMA, formerly the Outdoor Advertising Association of Australia (OAAA), is the peak industry body which represents most of Australia's Outdoor Media Display companies and production facilities, and some Media Display asset owners.
Comment below to have your say on this story.
If you have a news story or tip-off, get in touch at editorial@sprinter.com.au.
Sign up to the Sprinter newsletter