Outdoor advertising company, oOh! Media has recorded an 18 per cent increase ($504 million) jump in annual revenue compared with 2020 figures, according to new figures released today.
The company’s latest numbers for the 2021 calendar year showed surprising upticks in revenue across certain key platforms, despite the challenges presented by delta and omicron-related lockdowns and restrictions.
Road revenue increased during November and December 2021, with record monthly income recorded in both months.
The company also recorded an increased gross margin of 44.1 per cent, as well as an impressive debt reduction of 43 per cent, compared to December 2020.
Total loss after tax was $10.3m, compared to $36.2m loss in the previous year.
“[The results] speaks to the strengths of oOh! Media as a business, and the out of home sector. I’m very upbeat,” said oOh!media CEO, Cathy O’Connor (featured image).
“We have the same populations (from 2020 to 2021) they’re just moving in different ways.
“That’s what’s driven the recovery; people are still in their cars, they’re still going to shopping centres. We just told the story of the audience, and being the most diverse operator, we could tell it better than others.”
In other platforms, street furniture and rail increased by 23 per cent to $182 million, while retail grew 18 per cent compared to $125 million, compared to last year.
So far this year, oOh! Media’s quarterly revenue is pacing at 15 per cent higher than first quarter 2021, and at 93 per cent of first quarter 2019 revenues.
“For the medium term, the fundamentals for out of home as a growth advertising medium remain compelling. This will only be enhanced by further significant digital investment opportunities across key formats,” said O’Connor.
