Out of Home industry up 12 percent to $260m for Q1 2023: OMA
The Australian Out of Home industry is continuing to grow off the back of a strong 2022, with net media revenue increasing 11.8 percent year over year in Q1 2023.
According to data from the Outdoor Media Association (OMA), net media revenue for the period came in at $259.4 million, up from $232.1 million in the same quarter last year.
Digital OOH revenue accounted for 67.6 percent of total net media revenue year-to-date, up from 57.6 percent year over year.
The OOH industry hit the $1.1 billion mark in 2022, buoyed by growth from roadside billboards and transport during the period. OMA is also projecting that the OOH industry will hit an annual compound growth rate of 9 percent over the next four years.
“The OOH industry has never been as nimble, focused and unified, with a flurry of activity to start the year. From the Healthy Returns OOH campaign reaching 12 million Australians to encourage healthy food choices; to launching the OOH Toolkit which gives greater transparency into Attention, Reach, and Impact metrics for all signs; and, just last week, we hosted our first conference in partnership with the IAB, Powering DOOH, focused on the potential of programmatic OOH for advertisers,” OMA chief executive Elizabeth McIntyre said.
“Coming off the back of $1 billion in revenue in 2022, the sky is the limit for OOH and I look forward to leading the OMA and MOVE to drive this growth.”
OMA also added two new members in its Q1 data, including regional Victoria-based Gawk, and transit advertising company S&J Media Group, whose remit covers the Sunshine Coast, the Gold Coast and Melbourne.
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