Outdoor revenue bounces back

Spending on outdoor media is bouncing back, but print’s share of the pie continues to decline as digital heads towards two thirds of the market.

Total revenue from outdoor showed an increase of 14.8 per cent on net media revenue in the second quarter, reporting $249.5m, up from $217.3m for the same quarter last year.

Digital outdoor revenue 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. Print’s share dipped below 40 per cent for the first time, however in cash terms it is still ahead of last year.

Year-to-date outdoor revenue has increased by 19.5 per cent and is $478.6m, an increase from 47.3 per cent on 2020 and is sitting behind the pre-pandemic 2019 figure by just 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.”

Highlighting the digital drive she said, “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.