Australia OOH industry net revenue up 25.5% in Q1 2022, OMA attributes recovery to MOVE 1.5, standard norms
By Rajiv Raghunath - April 07, 2022
“There are many signs that we are back on track and that 2022 will see us achieve or even exceed pre-pandemic annual revenue,” states OMA CEO Charmaine Moldrich
The OOH industry in Australia has announced an increase of 25.5 per cent on net media revenue for Q1 2022, reporting $228.1 million, up from $181.7 million (previously released revenue figures have been updated to reflect changes in the Outdoor Media Association membership) for the same quarter in 2021. This was cited in an OMA report.
The industry body reports that DOOH revenue accounts for 60.8 per cent of total net media revenue year-to-date, an increase over the recorded 57.0 per cent (as per Zenith Advertising Expenditure Forecasts report, December 2021) for the same period last year.
OMA CEO Charmaine Moldrich said, “The industry continues to rebound in the first three months of the year, with revenue down only slightly, by 2.9 per cent on pre-pandemic 2019. There are many signs that we are back on track and that 2022 will see us achieve or even exceed pre-pandemic annual revenue.”
“Our commitment to transparency, accuracy and credibility in our audience measurement platform MOVE 1.5 and adoption of industry-wide standards to make it easier to plan and buy, have helped with our recovery. We have built tools and introduced processes that specifically fill the needs of our clients, and we are now starting to see the positive results.”
“As travel increases with the easing of testing requirements, we expect to see even more confidence in our channel’s ability to deliver reach and impact,” concluded Moldrich.
The OMA added two new members in March 2022: Helio, an online advertising marketplace, and Civic Outdoor, an independently owned and operated Outdoor operator also joining MOVE.