OOH revenue steadily growing in Q2 2023: OMA
The out of home (OOH) industry has today reported a consistent increase of 11.9% net media revenue for Q2 2023, according to the Outdoor Media Association (OMA).
The data has recorded a net revenue of $283.2 million, up from $253.1 million for the same quarter last year. It was originally reported that Q2 last year totaled $249.5 million, but figures had since been updated to reflect changes in OMA memberships.
Q1 2023 saw a similar growth of 11.8%, with net media revenue sitting at $259.4 million.
In Q2 2023, Digital OOH revenue accounts for 68.1% of the total year-to-date, up from 58.7% in Q2 2022. It is again similar to last quarter, where DOOH accounted for 67.7%.
Year-to-date revenue has increased 11.9% to $543.5 million, up from last year’s $478.6 million.
Digital OOH (DOOH) revenue accounts for 68.1 per cent of total net media revenue year-to-date, an increase over the recorded 58.7 per cent* for the same period last year.
Year-to-date net revenue has increased 11.9 per cent per cent from the same time in 2022 and is $543.5 million.
Elizabeth McIntyre, OMA CEO, said: “Our continued robust revenue growth shows advertisers’ trust in our channel. It’s testament that our industry’s focus on clients and innovation is working.
“Our evolving strategy to build a stronger, more prosperous and resilient industry into the long term is working.
We have several initiatives in the pipeline for 2023 and with the launch of MOVE 2.0 in 2024, there will be continued transformation for the channel,” she concluded.
OMA had three new members join in Q2 – Stockland, one of Australia’s largest diversified property groups, Certeq, an OOH supplier that specialises in large-scale IT and AV systems, and Absen, a global provider of LED display solutions.
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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.
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