The out-of-home (OOH) industry posted its most successful quarter to-date recording an increase of 22.4% on net revenue year on year with $149.4 million, up from $122.0 million for the first quarter 2014.
This follows on from unprecedented growth at the end of 2014 when revenue increased by 10.0% over 2013.
Monthly results have been positive with the industry posting an increase of 18.6% for January and 23.8% for February year on year. March figures show an increase of 24.2% year on year, with net revenue of $58.4 million. Increases are across all formats: billboards, street furniture, retail and transit; and, digital revenue is sitting at 21.0% of total net revenue, which is an increase over 18.8% recorded for 2014.
“As audiences continue to fragment for other advertising channels, the outdoor audience grows when population increases. We attribute our revenue growth to the effectiveness of the medium: nine out of ten people leave home each day, which means that outdoor reaches more people on a daily basis than any other media,” said Charmaine Moldrich, CEO of the Outdoor Media Association (OMA). “We also have benefitted greatly from new technology: not only with sampling, customer engagement and mobile innovations but also with new digital billboards which shorten campaign lead-times and allow for more targeted messages,” Moldrich continued.
“We have just completed a software update for MOVE (Measurement and Outdoor Visibility and Exposure), which introduced geo-targeting as well as improvements to reporting. Simplifying the buying and reporting of outdoor will help our industry continue its growth trajectory,” added Moldrich.
Category figures first quarter 2015
|
$53.9 million |
|
$47.3 million |
|
$29.0 million |
|
$19.2 million |
Category figures first quarter 2014
|
$42.3 million |
|
$45.3 million |
|
$19.5 million |
|
$15.0 million |
[1]Figures have been adjusted from previously reported 2014 revenue to reflect changes in OMA membership, allowing direct comparisons in revenue year-on-year.
