The Out of Home (OOH) industry has today announced an increase of 9.26 per cent in net media revenue for Q1 2024, reporting $287.6 million, up from $263.2 million for the same quarter in 2023.
Digital OOH (DOOH) revenue accounts for 74.1 per cent of total net media revenue year-to-date, an increase over the recorded 70.7 per cent* for the same period last year.
OMA CEO Elizabeth McIntyre said, “The OOH industry has never been as nimble, focussed, and unified, with a flurry of activity to start the year. From the ‘Fresh veg, deliciously affordable’ OOH campaign being our industry’s largest campaign yet, valued at more than $12.3 million; to launching the next phase of MOVE which gives greater transparency into Attention, Reach, and Impact metrics for all signs; and just last week, we hosted our second conference in partnership with the IAB, Powering DOOH, focused on the potential of programmatic OOH for advertisers.”
“After achieving $1.2 billion in revenue in 2023, I am eager to lead the OMA and MOVE initiatives to propel the continued expansion of the OOH sector,” concluded McIntyre.
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, and the growth of programmatic buying.
