OMA reveals OOH industry grows by 50% YoY in Q3
The Outdoor Media Association (OMA) has today revealed the out-of-home (OOH) industry has increased its net media revenue by 43.7% for the third quarter of 2022, reporting $244.6 million, up from $170.2 million for the same quarter in 2021.
Moreover, Digital OOH (DOOH) revenue now accounts for 62.5% of total net media revenue year-to-date, an increase over the recorded 57.6 per cent for the same period last year.
Year-to-date net media revenue is sitting at $725.3 million, an increase from 26.5% on 2021 and sitting behind pre-pandemic 2019 by -2.8%
OMA CEO, Charmaine Moldrich said: “Quarter three sees the industry almost on par with pre-pandemic revenue, only .8 per cent down from 2019. This continued growth is in line with our projections for recovery. Driving our success is our concerted effort as an industry to launch new research and tools into the market.”
“To date in 2022 the OMA has launched a raft of tools making it easier to plan and buy out-of-home campaigns. This includes the Neuro Impact Factor (NIF), a qualitative metric that goes beyond attention to measure the impact of Out of Home campaigns. The NIF is part of the upgrade of MOVE which allows for the measurement of digital campaigns; both metrics are supported by industry-wide standards.”
“These initiatives, and the building of the new measurement platform MOVE 2.0, have undoubtedly spurred the raft of new members, with eight so far this year, bringing us close to representing 100% of the industry,” concluded Moldrich.
The OMA has added three new members this quarter: Blue Tongue Outdoor, SureVision and Veridooh.
Lats week, the OMA announced the departure of Charmaine Moldrich, who will step down from her role as CEO in June 2023 after well over a decade.
Of her departure, Moldrich said at the time: “It’s a bittersweet moment, but after more than a decade working in an industry it is time to move on. Out of Home (OOH) has become so much a part of my life and I’m extremely proud of what we’ve accomplished in that time – particularly how we’ve seized the opportunities of digital OOH and developed tools to help advertisers, buyers, and planners understand the effectiveness of the channel. While there’s much more to do, I know it is the right time to step away and create space for new energy and ideas, to shepherd the industry into the next phase.”
Moldrich first joined the industry body as CEO in 2010, bringing 30 years of experience to the role from across a variety of sectors including media, arts, higher education and government marketing, and has since become an integral part of the OOH industry’s growth amidst changing technologies.
Early in her tenure she was responsible for ushering in the Measurement of Outdoor Visibility and Exposure (MOVE) platform, launched to perform accurate industry-wide OOH audience measurement, which she has also helmed as CEO. Since, she has played a strong hand in building the credibility, visibility and impact of the industry association, which now represents close to 100% of the OOH market in Australia. The next iteration of the platform, MOVE 2.0 is currently in development and is set to launch under the new CEO in 2024.
After her departure, Moldrich will take six months off to recharge before considering her next move.
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