OUTDOOR MEDIA SURGES BY ALMOST 50%

The Out of Home (OOH) industry achieved an increase of 43.7 per cent on net media revenue for the third quarter, as the sector surged back from its Covid collapse.

Outdoor media spend was $244.6, up from $170.2m the same quarter last year. Digital OOH (DOOH) revenue accounts for 62.5 per cent of total net media revenue year-to-date, an increase over the recorded 57.6 per cent for the same period last year.

Print’s share of the pie continues to diminish, however in cash terms, spend on outdoor print rose from by almost 30 per cent in the quarter, up from $72m to $92m.

Year-to-date net media revenue is sitting at $725.3m, an increase from 26.5 per cent on 2021, and fast approaching the behind pre-pandemic level, it is just 2.8 per cent off the 2019 figure.

OMA CEO Charmaine Moldrich said, “Quarter three sees the industry almost on par with pre-pandemic revenue. This continued growth is in line with our projections for recovery. Driving our success is our concerted effort as an industry to launch new research and tools into the market.”

“To-date in 2022 the OMA has launched 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, and the building of the new measurement platform Move 2.0, have undoubtably spurred the raft of new members, with eight so far this year, bringing us close to representing a 100 per cent of the industry,” concluded Moldrich.