The Out-of-Home (OOH) industry again posted double-digit quarterly growth recording an increase of 16.3 per cent on net revenue year on year with $154.9 million, up from $133.2 million for the second quarter 2015.
Monthly results have been positive with the industry posting year on year increases of 19.6pc for April, 12.5pc for May and 17.3pc for June. Increases are across all formats: billboards, street furniture, retail and transit; and, digital revenue is sitting at 22.8pc of total net revenue year to date.
“Once again, the first half of 2015 highlights the strength of OOH. Our audiences continue to grow and our ability to broadcast and narrowcast to the nine out of ten Australians who leave home each day is strengthened by technology,” said Charmaine Moldrich (pictured) CEO of the Outdoor Media Association (OMA).
“It’s not only our digital expansion that is fuelling growth, we are seeing growth in our traditional signs as we see mobile and OOH work so seamlessly together,” continued Moldrich.
“And to build on this revolutionary growth, we recently announced the launch of a new outdoor advertising Automated Transaction Platform, rolling out in 2016, with the objective of making OOH easier to buy. The world-first one-stop hub will facilitate OOH media buys across all inventory Australia-wide. This is a significant next step in the evolution of the industry and we believe it will grow revenues across all formats,” said Moldrich.