Outdoor bounces back, digital surges

Out of home media is bouncing back, and is now almost at pre-pandemic levels, but print’s share continues to slide, with digital now approaching two thirds of the pie.

The Out of Home industry saw an increase of 14.8 per cent on net media revenue for the second quarter this year, the spend reaching $249.5m, up from $217.3m for the same quarter last year.

Digital OOH revenue now accounts for 62.4 per cent of total net media revenue year-to-date, an increase over the recorded 58.3 per cent for the same period last year, with print’s share falling by four per cent to 37.6 per cent.

Nonetheless the volume of print produced is rising strongly with year-to-date outdoor revenue increasing by 19.5 per cent, sitting at $478.6m, an increase from 47.3 per cent on 2020, and taking it just behind pre-pandemic 2019 by 3.9 per cent.

OMA CEO Charmaine Moldrich said, “The industry continues to strengthen showing our channel’s capability to be effective for both short-term activations and long-term brand building.”

“The first six months in 2022 has seen a flurry of activity with the launch in January of a raft of tools making it easier to plan and buy Out of Home campaigns. This includes the Neuro Impact Factor (NIF), a qualitative metric which goes beyond attention to measure the impact of Out of Home campaigns. The NIF is part of the upgrade of Move which allows for the measurement of digital campaigns; both metrics are supported by industry-wide standards.

“These initiatives have undoubtably spurred our recovery with increased market confidence in our channel. We have several new tools to introduce in Q3 which will provide even greater transparency about audiences and how they engage with our signs,” concluded Moldrich.

The OMA has added seven new members this year: Civic Outdoor, GoTransit Media Group, Helio, Hivestack, The Media Shop,Tonic Media Network, and Vicinity Centres.

According to figures released by Zenith, Australian advertising spend is expected to grow five per cent in 2022, off the back of 18 per cent growth in 2021.