The Out-of-Home (OOH) industry accelerated in third quarter 2014, posting a 12.2% increase in net revenue to $149.7 million, up from $133.4 million* for the same period in 2013.
Year-to-date revenue has increased by 7.8%, tracking at $413.6 million, up from $383.5 million* for the same time last year.
“The industry has had 17 out of 18 quarters of growth since the GFC, and continues from strength to strength. We have seen some high-impact OOH-only campaigns in quarter three that have achieved the visibility you can only get these days from Outdoor. It’s also great to see more advertisers combining Outdoor with traditional winter mediums like TV and Online. It is obviously working for the brands and this is supported by the Brandscience research we commissioned which told us that Out-of-Home acts as a media multiplier when combined with TV and Online to increase ROI,” said Charmaine Moldrich, CEO of the Outdoor Media Association (OMA).
The OOH industry has seen unprecedented digital expansion in 2014 with the launch of over 150 new digital screens across Australia. Revenue from digital accounted for 15.8% of total revenue in the third quarter, up from 13.9% in the second quarter 2014.
“Outdoor is the only traditional advertising medium still seeing growth, and we attribute this to our versatility and innovative use of technology,” Moldrich added. “Opportunities for consumer engagement will only increase through the convergence of mobile and digital technology.”