Australia’s OOH industry nets 8.7% revenue growth in Q1 FY18

Australia’s OOH industry has posted an increase of 8.7% on net media revenue year-on-year in the first quarter of 2018, posting $203.1 million, up from $186.9 million for the first quarter in 2017, as per data released by Outdoor Media Association (OMA).

Digital revenue is sitting at 49.7% of total net media revenue year-to-date, an increase over the recorded 44.4% for the same period last year. “OOH is moving forward into an exciting period of progress and expansion; led by digital and the increasing availability of powerful data sets. This is compelling for advertisers and why we continue to see our revenue grow,” said Charmaine Moldrich, CEO, OMA.

The industry has announced that it will be investing up to $10 million to rejuvenate MOVE to accurately measure audiences and prove the power and efficacy of its OOH digital network. This follows the hundreds of millions of dollars OMA members have invested in building a modern dynamic channel, with scale to reach Australians on mass.

The industry ended 2017 with an increase of 6.03% on net media revenue, posting $837.1 million, up from $789.5 million for the previous year.