OOH Advertising Spend On The Rise

OOH Advertising Spend On The Rise
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The Out of Home (OOH) industry is showing no signs of growth softening after today announcing an increase of 5.9 per cent on net media revenue year-on-year in the first quarter of 2019, posting $214.9 million.

This figure is up from $203.1 million for the first quarter in 2018.

Digital revenue is sitting at 55.1 per cent of total net media revenue year-to-date, an increase over the recorded 49.7 per cent for the same period last year.

OMA CEO Charmaine Moldrich said: “Our industry’s investment in technology and its keenness to innovate, coupled with audience growth, has positioned it well to be the number one always on channel reaching 93 per cent of the population each and every day.

“OOH’s ability to offer advertisers the flexibility and immediacy through digital signs, as well as its ability to create brand fame and awareness through its traditional signs make it one of the top channels to be transacted in today’s advertising market.”

Moldrich added: “We are not resting on our laurels. We still have room to grow, and this year we have an ambitious program.

“We’ll continue to demonstrate the efficacy and power of OOH, as well as launching a new product, CORE, which will streamline the briefing and response process for buying OOH, while delivering significant time savings for agencies, clients and OMA members.”

The industry ended 2018 with an increase of 10.8 per cent on net media revenue, posting $927.2 million, up from $837.1 million for the previous year.

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