Outdoor revenues rise as DOOH takes on more spend
The Australian Out-of-Home (OOH) industry has seen an increase of 125% in net media revenue for the second quarter of 2021, compared to the same time last year, according to a new report from the Outdoor Media Association (OMA).
The second quarter of 2021 saw revenue hit $203.3 million, up from $90.3 million for the same period in 2020 (which has been updated due to new membership). Digital OOH (DOOH) revenue has surged in 2021, up 57.9% on last year to account for 61% of total net media revenue.
“Out-of-home advertising felt the full brunt of the pandemic at the height of lockdowns in Q2 2020, which explains the explosive increase of 125% year-on-year,” said Charmaine Moldrich, OMA CEO. “A better indication of our recovery is that we are only down by 17% on pre-pandemic revenue from Q2 2019. Each month this year has been better than the previous month.”
Leading the charge for DOOH are advertisers looking to break into new markets, such as tech companies, who are buying OOH campaigns for the first time.
Charmaine Moldrich
An example of this is fintech Stake, which partnered with programmatic solutions provider Bench to deliver a DOOH campaign in January 2021, resulting in over 1.1 million impressions served across digital screens and a 219% uplift in app downloads for Stake.
Bench used Stake’s app-attribution platform partner Branch, to link those that were exposed to the DOOH campaign, and those that downloaded Stake, helping to create a link between a traditional awareness channel and digital performance metrics.
Bench general manager Esther Carlsen, said DOOH powered by programmatic solutions, can empower brands to connect with audiences in more exciting and meaningful ways.
Moldrich said the OMA is determined to see OOH revenue recover to pre-pandemic levels by December 2021. To do this, the industry is looking to make it easier to buy and introducing a new value-based currency in Q3 following an extensive neuroscience research study conducted over the past two years. “These innovations have attracted 10 new members who have joined the membership in the last six months,” said Moldrich.
DOOH has seen significant growth in Australia over the past few years and is predicted by PwC to grow to $1.95 billion by 2024.
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Olivia Kruimel is the managing editor at Mumbrella. She has more than 15 years of experience in journalism, communications and marketing. Her journalism career began at Fairfax Media (now part of Nine) and includes various B2B publications such as B&T, Travel Today and ALB. As a marketer Olivia has worked for Standard Chartered and various global law firms.
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