OUTDOOR PRINT REVENUE SLIPS FURTHER BEHIND DIGITAL

Money spent on outdoor print in the second quarter of this year fell by 13 per cent, or $14m, compared to the same period last year.

Total revenue for print outdoor in the April to June period was $90.4m, down from $104.5m in the second quarter last year.

Print’s share of the outdoor media market is now less than a third for the first time, at 31.9 per cent, while digital outdoor continues to surge, its share is now 68.1 per cent. Spend on digital outdoor media rose by $44m in the quarter, up from $148.5m to $192.8m

Total revenue for the Out of Home (OOH) industry increased by 11.9 percent net media revenue for Q2 2023, reporting $283.2m, up from $253.1m for the same quarter in 2022.

Year-to-date net revenue has increased 11.9 per cent per cent from the same time in 2022 and is $543.5m, looking like it will sail through the $1bn market by year’s end.

OMA CEO Elizabeth McIntyre said, “Our continued robust revenue growth shows advertisers’ trust in our channel. It’s testament that our industry’s focus on clients and innovation is working.”

“Our evolving strategy to build a stronger, more prosperous and resilient industry into the long term is working. We have several initiatives in the pipeline for 2023 and with the launch of Move 2.0 next year, there will be continued transformation for the channel,” concluded McIntyre.

The surge in digital outdoor media is not without its critics, there has been a furore in Sydney over the placement of QMS digital assets on the city’s pavements, which caused a halt to the programme, and around the world digital advertising has been drawing the ire of city residents and workers pushing back against electronic corporate messaging.