The Outdoor Media Association has announced a banner year for the out of home (OOH) industry, with an increase of 10.8 per cent on net media revenue.
The increase brought the OOH industry to $927.2 million, up from $837.1 million for 2017.
Quarter four 2018 saw an increase of 9.8 per cent on net media revenue year-on-year, posting $277.5 million, up from $252.8 million for quarter four 2017.
Digital OOH (DOOH) revenue accounts for 52.3 per cent of total net media revenue year-to-date, an increase over the recorded 47.3 per cent for the same period last year.
OMA CEO Charmaine Moldrich said: “We are thrilled to mark industry growth for the ninth consecutive year, demonstrating that advertisers and agencies trust in OOH’s increasing ability to connect brands with our growing audience”.
OMA noted that these findings mark the start of a change in how it reports its revenue numbers, due to recent changes in ownership in the OOH industry which may trigger compliance issues for the OMA’s ASX-listed members.
Moldrich continued: “Reporting as we did previously, opens the possibility for the market to interpret individual company performance prior to it being announced publicly”.
The OMA will make four quarterly announcements of total aggregated industry data, including the proportion of digital revenue. In these releases there will be no category breakdowns reported.
Molrich concluded: “The OMA will make two additional market announcements following the release of results by listed members to the public.