Outdoor revenues grow by 20%
Outdoor advertising has since a 20% revenue increase, the Outdoor Media Association has said.
The announcement:
The Out-of-Home industry continues on its growth trajectory posting a healthy 20% increase on net revenue year-to-date at the end of the third quarter of 2010 compared to the same period in 2009.
Net revenue for the quarter, July to September, increased 30% to $111.4 million compared to $85.8 million in 2009.
Charmaine Moldrich the CEO of the Outdoor Media Association said the industry was looking forward to continued growth in the final quarter.
Ms Moldrich said: “It is heartening to see such growth following on from the launch of new research, Outsmart, conducted by BrandScience which proves that OOH is a medium that delivers a high Return-on-Investment (ROI) to advertisers.”
The independent research released by the OMA last month confirmed that the medium returned a high ROI when employed as a standalone or as part of a total campaign mix.
Following the launch earlier this year of MOVE, the industry’s audience measurement system providing accountability to advertisers, these new studies provide solid data as to how Out-of-Home performs in the market.
Research highlights show that Out-of-Home:
• Out-of-Home delivers ROI and memory as a stand-alone medium and a media multiplier
• The higher the budget spend on Out-of-Home the larger the return on investment
All categories across the sector have performed well in the third quarter compared to 2009:
• Roadside Billboards (over and under 25 square metres) $38.7 million
• Roadside Other (street furniture, taxis, bus/tram externals, small format) $39.7 million
• Transport (including airports) $16.4 million
• Retail $16.6 million
Source: Outdoor Media Association announcement
