The Outdoor Media Association (OMA) has released the full year results for the Out of Home (OOH) industry, reporting a net media revenue of $1.06 billion, up 27.6 per cent from the same time last year.
Roadside billboards (over and under 25 square metres) contributed $463.8 million towards this revenue, up from $362.5 million reported in 2021.
Roadside other formats (including street furniture, bus/tram externals and small format) saw revenues of $238.5 million in 2022, up from $195.7 million the year prior.
As for transport (including airports), it brought in $100.3 million in revenue, an increase from $48.7 million in 2021.
Retail, lifestyle and other formats brought in $257.9 million, also an increase from $224.2 million recorded last year.
The OMA added that digital out of home revenue accounts for 64.1 per cent of total net media revenue year-to-date, an increase over the recorded 58.9 per cent for the same period last year.
oOh!media CEO Cathy O’Connor recently said, “The Outdoor Media Association recently released the 2022 results where in addition to announcing that Out of Home had exceeded $1billion in net media revenues it expects a revenue CAGR of nine per cent over the next four years.
“Over the course of the year, Out of Home continued its strong structural growth, consistent with its pre-pandemic trajectory and is the fastest growing major media format in Australia.”
oOh!media (ASX:OML) has announced its financial results for the year ending 31 December 2022, reporting an NPAT of $56.2 million compared to the $12.7 million it revealed for the prior year.
This is an increase of 343 per cent, with its revenue up by 18 per cent to $592.6 million and its Adjusted Underlying EBITDA up 64 per cent to $127.1 million.
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