The out-of-home (OOH) industry has seen an 11.8 per cent increase in net media revenue for Q1 2023, reporting $259.4 million, up from $232.1 million for the same quarter in 2022, according to the Outdoor Media Association (OMA).
The OMA said that Digital OOH (DOOH) accounts for 67.6 per cent of total net media revenue for the year so far, up from 57.6 per cent for the same time last year.
The OMA’s CEO Elizabeth McIntyre, who was appointed in February said, “The OOH industry has never been as nimble, focussed and unified, with a flurry of activity to start the year. From the Healthy Returns OOH campaign reaching 12 million Australians to encourage healthy food choices; to launching the OOH Toolkit which gives greater transparency into Attention, Reach, and Impact metrics for all signs; and, just last week, we hosted our first conference in partnership with the IAB, Powering DOOH, focussed on the potential of programmatic OOH for advertisers.”
“Coming off the back of $1 billion in revenue in 2022, the sky is the limit for OOH and I look forward to leading the OMA and MOVE to drive this growth,” she added.
The OMA also added two new members in the first quarter of the year: Gawk, a leading OOH provider in regional Victoria, and S&J Media Group which specialises in transit advertising from the Sunshine Coast to the Gold Coast, and Melbourne.
Gawk director James Course also recently won the Grand Prix and the B&T 30 Under 30 awards.
The OOH industry is projecting an annual compound growth rate of nine per cent over the next four years. The forecast adds to PwC’s conservative projections with the industry’s knowledge of its continued investment in inventory, the launch of the new measurement platform MOVE 2.0, and the growth of programmatic buying.
