Out of home industry revenues grew by 6% in 2017, OMA suggests
The out of home industry has reported a yearly increase in media revenue of 6.03% for the year of 2017, an Outdoor Media Association announcement has claimed.
According to the OMA the out of home industry grew from 2016’s net media revenue figure of $789.5m in 2016 to $837.1m in 2017.
The release states digital out of home revenue accounts for 47.3% of total net media revenue, which has increased by 40.2% since 2016.
Steve O’Connor, chairman of the OMA, said in a statement: “These results prove that OOH is a strong channel in the media mix. This is testament to our industry’s drive – rather than resting on our laurels, we continually invest in our platform to ensure we are delivering more to advertisers. We will continue to see this commitment in 2018 and beyond.
“As the OMA buckles up for an ambitious program in the lead up to its 80th birthday in 2019, I look forward to another exceptional year of growing and innovating the OOH industry in concert with members and the Board.”
Charmaine Moldrich, CEO of the OMA, added: “We know that OOH audiences have grown by 23% over the last seven years, over-indexing population growth of 14.9%. This continued wave of growth puts us in an enviable position as we head into 2018.”
Abigail Dawson was Mumbrella's senior content journalist covering event content. She left Mumbrella to move into an agency role in 2020.
Linkedin