OMA reports a 5.9% boost in out of home revenue for first quarter of 2019
The out of home industry has reported an increase of 5.9% on net media revenue year-on-year for the first quarter of 2019, according to the Outdoor Media Association.
The industry posted a net media revenue of $214.9 million for the first quarter of 2019, up from $203.1 million on 2018.
OMA is reporting a 5.9% jump in revenue year-on-year
Digital revenue is reported to be sitting at 55.1% of total net media revenue for year-to-date, an increase on the 49.7% reported last year.
CEO of the OMA Charmaine Moldrich said the flexibility of the available offerings are the reason the sector has performed well.
“Our industry’s investment in technology and its keenness to innovate, coupled with audience growth, has positioned it well to be the number one always on channel reaching 93% of the population each and every day,” said Moldrich.
“OOH’s ability to offer advertisers the flexibility and immediacy through digital signs, as well as its ability to create brand fame and awareness through its traditional signs make it one of the top channels to be transacted in today’s advertising market.”
“We are not resting on our laurels. We still have room to grow, and this year we have an ambitious program. We’ll continue to demonstrate the efficacy and power of OOH, as well as launching a new product, CORE, which will streamline the briefing and response process for buying OOH, while delivering significant time savings for agencies, clients and OMA members.”
The out of home sector ended 2018 with an increase of 10.8% on net media revenue, posting a final figure of $927.2 million, an increase from $837.1 million in 2017.
