Out Of Home Industry Reports Double Digit Growth In Q2
The Out of Home (OOH) industry has today announced an increase of 11.9 percent net media revenue for Q2 2023, reporting $283.2 million, up from $253.1 million for the same quarter in 2022.
Digital OOH (DOOH) revenue accounts for 68.1 per cent of total net media revenue year-to-date, an increase over the recorded 58.7 per cent for the same period last year.
Year-to-date net revenue has increased 11.9 per cent per cent from the same time in 2022 and is $543.5 million.
OMA CEO Elizabeth McIntyre said: “Our continued robust revenue growth shows advertisers’ trust in our channel. It’s testament that our industry’s focus on clients and innovation is working.”
The OMA added three new members in Q2: Stockland, one of Australia’s largest diversified property groups; Certeq, an OOH supplier who specialises in large-scale IT and AV systems integration services; and Absen, a global provider of LED display solutions.
“Our evolving strategy to build a stronger, more prosperous and resilient industry into the long term is working. We have several initiatives in the pipeline for 2023 and with the launch of MOVE 2.0 in 2024, there will be continued transformation for the channel,” concluded McIntyre.
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