Some 51 per cent of the Australian revenue for outdoor company QMS is coming from digital, the company has revealed in its first half of the financial year results.
When including the New Zealand arm of the company digital equated to 39 per cent of the media revenue, according to the statement to the Australian Securities Exchange (ASX).
The company also posted statutory revenue was up 50 per cent to $44.4 million with an EBITDA of $9.9 million.
Commenting on the results, Managing Director and CEO Barclay Nettlefold said, “This is a very strong result that demonstrates the momentum in the business and the significant uplift that we are seeing from the continued rollout of our digital pipeline.
“Last year the Australian and New Zealand outdoor advertising markets grew 17 per cent and 12 per cent respectively, driven by growing demand for digital outdoor from advertisers who recognise the superior flexibility and engagement offered by the medium.
“We are on track to more than double the number of landmark digital billboards this financial year with 48 billboards to be operational across Australia and New Zealand by 30 June 2016. Digital now contributes almost 40 per cent of total media revenue, and we expect this to continue to grow as we expand our platform on both sides of the Tasman and Indonesia.
“We have a strong pipeline of sites, with seven premium digital sites already permitted to support our growth in FY17.”
Two months ago, QMS acquired New Zealand outdoor advertising company iSite to push the company’s portfolio in our neighbouring country.
“The acquisition of iSite has transformed our market position in New Zealand,” said Nettleford. “We see multiple opportunities to leverage our leading position in New Zealand across a range of formats including landmark digital, transit and retail assets.”
The company says it’s on track with what its projections were for the financial year.
