‘Australia is experiencing a strong resurgence’: OOH ad spend is up in 2024 and it’s only going to get better next year
Out-of-home advertising is on the up with no signs of slowing down.
A WARC study forecasted a 7.3% increase in ad spend in 2024, but the news is even better for Australia specifically, according to a key industry head.
“Australia is experiencing a strong resurgence in outdoor advertising as brands increasingly recognise its power to deliver high-impact, contextually relevant campaigns,” Outdoor Media Association (OMA) CEO, Elizabeth McIntyre, told Mumbrella.
“Mirroring what’s being experienced globally, Australia has seen a 9% increase in total growth with solid upswings in both DOOH and Classic OOH.”
The WARC report predicted that OOH ad spend would reach $52.8 billion in 2024, with the wider global ad market forecast to reach $1 trillion. Meanwhile, digital OOH ad spend was forecasted to increase by17% year on year in 2024 and hit $16.9 billion worldwide.
McIntyre said locally speaking, Australia is in a very healthy position for 2025.
“Irrespective of whether Australia’s economic headwinds escalate, hold steady or abate somewhat, our sector is very well prepared for any eventualities in 2025, thanks to higher levels of consumer trust relative to other media, significant investment in technology and data-driven targeting and, of course, the launch of MOVE2.0,” she said.
MOVE 2.0 is hoped to bring “significant new audience metrics for agencies and advertisers, including regional audiences with over 100,000 signs measured across the country” following its launch next year.
McIntyre will feature in next week’s Media Mayhem column.
Keep up to date with the latest in media and marketing
Got a tip?
Neil Griffiths is the Managing Editor of Mumbrella. He joined the company in October 2023.
Linkedin
Have your say