OOH industry grows nearly 10% in Q1 2024
The Australian out-of-home (OOH) industry has reported a 9.26% increase on net media revenue for Q1, 2024, according to the Outdoor Media Association (OMA).
The industry is at $287.6 million, up from $263.2 million for the same quarter in 2023.
Digital OOH revenue accounted for 74.1% of total net media revenue year-to-date, an increase over the recorded 70.7% for the same period last year.
“The OOH industry has never been as nimble, focussed, and unified, with a flurry of activity to start the year,” said Elizabeth McIntyre, chief executive of OMA.
“From the ‘Fresh veg, deliciously affordable’ OOH campaign being our industry’s largest campaign yet, valued at more than $12.3 million; to launching the next phase of MOVE which gives greater transparency into Attention, Reach, and Impact metrics for all signs; and just last week, we hosted our second conference in partnership with the IAB, Powering DOOH, focussed on the potential of programmatic OOH for advertisers.
“After achieving $1.2 billion in revenue in 2023, I am eager to lead the OMA and MOVE initiatives to propel the continued expansion of the OOH sector,” she concluded.
The industry is projecting an annual compound growth rate of 9% over the next four years.
Keep up to date with Mumbrella Daily
Got a tip?
Lauren McNamara is a journalist at Mumbrella, covering the creative and PR beat. She joined in November 2022 as editorial assistant, after completing a Bachelor of Communications (Journalism) at UTS.
Linkedin
Have your say