OOH revenue hits $1bn in 2022; surpasses pre-pandemic level

The Australian out-of-home (OOH) media continued the trajectory of post-pandemic recovery, as the industry hit $1 billion in revenue for 2022, according to the Outdoor Media Association (OMA).

The OMA has reported a net media revenue of $1.06 billion for the OOH industry in 2022, an increase of 27.6% from an adjusted figure of $831.1 million for 2021.

The industry posted $329.7 million in net revenue for Q4, an increase of 30.2% or $253.2 million year-on-year (YoY).

[click to enlarge]: OOH revenue trend since 2019

OOH media revenue saw a sharp decline during the pandemic in 2020. However, it has maintained an upward trend since then, and 2022 was the first year where the revenue exceeded the pre-pandemic high in 2019 ($982.3 million).

Digital OOH (DOOH) revenue accounts for 64.1% of total net media revenue year-to-date, an increase over the recorded 58.9% for the same period last year.

The industry is projecting an annual compound growth rate of 9% over the next four years. With the new measurement platform MOVE 2.0 due to be launched, OMA CEO Charmaine Moldrich is confident that OOH advertising will have easier transactions and better measurements in the near future.

“The industry has invested $15 million in MOVE 2.0 which will provide more granular measurement data, to be launched in 2024,” said Moldrich.

“In 2022 the OMA 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 which 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.

“We will be pushing into programmatic and automation this year, starting with the release of an industry Impression Multiplier. This will make it easier to transact programmatically, realising the power of real-time DOOH for clients.”


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