OMA reports record 2016 industry revenues as sector sees complaints dwindle
The Australian out-of-home advertising industry saw revenues rise to a record $789.5m in 2016, up by more than $100m on the previous year as heavy investment in digital signage continued to pay dividends.
OMA chair Steve O’Connor says digital now represents 40% of OOH media revenue
Improvements in the way out of home is being delivered has also led to a significant drop in the number of complaints being received by the advertising watchdog – the result of a concerted effort by operators to clean up their act through its pre-vetting system.
“Since the 2011 federal government Parliamentary Inquiry, the OMA has seen a significant reduction in the number of upheld complaints, particularly in the area of Sex, Sexuality and Nudity,” the report said.
The future is looking bright (no pun intended) for OOH with the progressive adoption of DOOH. With 40% of total OOH media revenue now coming from digital screens (which equate to just 7% of overall outdoor sites nationally), it’s pretty easy to understand the industry’s urgency to convert more sites of their static sites to drive up their revenue.
OOH automation (can we please stop calling it programmatic) is opening up tactical opportunities for new advertisers to the channel who previously rejected OOH due to its rigidity. However, legacy trading structures and approaches need to be reviewed and a much higher degree of sales flexibility injected to appease planners and buyers seeking new ways to drive targeting effectiveness and efficiency.