The Australian outdoor industry is to make a surprising resurgence this year, according to a new report which revealed the sector is likely to post a 9.4% increase in advertising revenue.
PriceWaterhouseCoopers has upgraded its ad growth forecast from 5.5%, which it predicted last year, to the more bullish 9.4% in its latest annual Australian Entertainment & Media Outlook report.
In contrast, PwC has downgraded the ad growth of almost every other medium this year, including the second fastest growing sector, subscription TV.
Last year, while it predicted STV would grow 24.7% in 2007, this year it has been downgraded to 20.3%. Online was the only industry which enjoyed a marginal increase in forecasted 2007 ad growth, from 29.3% (in last year's report), to 29.9% in the latest report.
For more on this story see the latest issue of B&T(August 3).
