OOH Bounces Back From COVID With Impressive Q1 2022 Revenue
The out of home (OOH) industry has today announced an increase of 25.5 per cent on net media revenue for Q1 2022, reporting $228.1 million, up from $181.7 million for the same quarter in 2021.
Digital OOH (DOOH) revenue accounted for 60.8 per cent of total net media revenue year-to-date, an increase over the recorded 57.0 per cent for the same period last year.
Outdoor Media Association (OMA) CEO Charmaine Moldrich said, “The industry continues to rebound in the first three months of the year, with revenue down only slightly, by 2.9 per cent on pre-pandemic 2019. There are many signs that we are back on track and that 2022 will see us achieve or even exceed pre-pandemic annual revenue.”
“Our commitment to transparency, accuracy and credibility in our audience measurement platform MOVE 1.5 and adoption of industry-wide standards to make it easier to plan and buy, have helped with our recovery.
“We have built tools and introduced processes that specifically fill the needs of our clients, and we are now starting to see the positive results.
“As travel increases with the easing of testing requirements, we expect to see even more confidence in our channel’s ability to deliver reach and impact.”
The OMA added two new members in March 2022, Helio, an online advertising marketplace, and Civic Outdoor, an independently owned and operated outdoor operator also joining OMA’s Measurement of Outdoor Visibility and Exposure, or “MOVE”.
According to figures released by Zenith, Australian advertising spend is expected to grow 5 per cent in 2022, following 18 per cent growth in 2021.
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