Out of Home industry reports record growth for September quarter
The Australian out-of-home industry has announced an increase of 14.6% in net media revenue for the third quarter of 2023, marking record growth for the sector.
The OOH industry reported net revenue of $283.3 million, up from $247.2 million in the same quarter in 2022.
Year-to-date net media revenue from out-of-home is up 12.8 per cent on the same nine months last year, now sitting at $826.9 million.
Digital out-of-home campaigns now make up 68.5% of total net media revenue (year-to-date), up from just 57.9% in 2022.
This is all according to figures released this morning by peak body the Outdoor Media Association, who represents “close to 100%” of the OOH industry in Australia.
All net figures exclude commission, production, and installation – and represent advertiser campaigns posted in each quarter, plus direct sales, estimated at 10% of total bookings.
“Our channel is reaping the benefits of being the only remaining broadcast media as audiences continue to fragment,” OMA chief Elizabeth McIntyre said.
“With 82% of people leaving home each day, out of home is where advertisers are guaranteed to find their audience.
“As we continue to innovate and move toward providing more granular data, we’ll see the channel become even more nimble and targeted.”
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Nathan Jolly is the Deputy Editor of Mumbrella. He joined the team in July, 2023.
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