Outdoor industry grew by 15.7% in 2016, OMA data suggests
Australia’s out-of-home advertising industry saw a massive 15.7% revenue growth during 2016, new numbers from the Outdoor Media Association suggest.
According to the newly released data – which is gathered directly from OMA members – the industry saw revenue grow by more than $100m, from $682.1m to $789.5m
Outdoor advertising saw $789.5m in revenue in 2016.
However, the industry’s rate of increase – driven in part by the arrival of digital billboards – does appear to be slowing, with each of the four quarters a little lower than the previous one. Growth for the four quarters of 2016 was 19.1%, 18.2%, 14.8% and 12.5% respectively.
Meanwhile, digital’s share of the outdoor market rose from 36% in the first quarter of the year to 40.2% in the last quarter.
The figures are the latest to confirm the outdoor boom, with numbers released by the Commercial Economic Advisory Service of Australia’s late last year suggesting that OOH and online were the only media channels experiencing growth.
In the last six years, the outdoor industry has almost doubled its revenues from $400m.
Charmaine Moldrich, CEO of the OMA said: “This puts us in a very enviable position as we head into 2017.”
Meanwhile, in the latest monthly numbers, the outdoor industry saw revenues hit $78.5m, a growth of 13.2% compared to the same month in 2015.
It is now nearly two years since Moldrich set a three-year target to hit $1bn.
topics
Charmaine Moldrich
Commercial Economic Advisory Service of Australia
digital out of home
outdoor
Outdoor Media Association
