OOH revenue up 12% in 2023 as DOOH continues to grow
The Outdoor Media Association (OMA) has released its end of year results for 2023, reporting a 12.2% rise in net media revenue to $1.194 billion.
The figures, which are based on the results of OMA member businesses, compared to an adjusted figure of $1.064 in 2022.
The share of digital out of home (DOOH) is continuing to rise, now accounting for 73.9% of total net media revenue year-to-date, up from 64.5% in the same period last year.
OMA CEO Elizabeth McIntyre said: “In 2023, we have seen our members invest into the future of the Out of Home channel, with the launch of OASIS, the boom of Programmatic buying and the development of MOVE2. This is a testament to our industry’s commitment to offering transparency and accountability for every dollar spent on OOH.”
“The launch of MOVE2 will bring change to our industry with the new capacity for seasonal variance, and regional and place-based audiences to be captured in the Audience Measurement System. Our industry will be able to dive into the data and provide accurate insights to OOH buyers. Our efforts are focused on establishing robust systems that ensure exceptional user experience.”
She added: “As we embark on the journey into 2024, the Outdoor Media Association finds itself actively shaping the future of the Outdoor industry. Together, with nearly 100 per cent of the industry, we move into a year of challenges, possibilities, and change. The journey has just begun.”
According to the latest figures from Standard Media Index, the OOH industry enjoyed a much stronger 2023 compared to other media channels. This saw ad spend in the Outdoor category rise 15.1%, compared to declines in almost every other media category, excluding digital and cinema.
OMA media owner members account for the majority of the OOH industry, including market leaders like oOh!media, QMS and JCDecaux.
Subscribe to the daily newsletter
Have your say