Australia’s OOH industry records 24% net revenue growth in 2021
By Rajiv Raghunath - February 03, 2022
DOOH accounts for 58.8% of total net media revenue
Australia’s OOH industry recorded a 24% rise to $812.7 million in net media revenue for 2021, up from $655.2 million in 2020, according to the Outdoor Media Association (OMA).
DOOH revenue accounted for 58.8% of total net media revenue, up from 55.2%.
OMA CEO Charmaine Moldrich said: “We began the year cautiously optimistic for industry recovery, and while the second wave of lockdowns mid-May stymied momentum, revenue consistently tracked above 2020 levels. What’s more, December’s results mark the first month since revenue has risen beyond pre-pandemic levels, up seven per cent from December 2019.
“We’ve taken this time as an industry to bolster our platforms and processes to make Out of Home easier to plan and buy campaigns and measure their impact. Launched on 31 January, MOVE 1.5 and our Industry standards provide a world-first for buyers.
“And, importantly, with the OMA and MOVE attracting new members with the addition of Scentre Group, Tonic Media Network, and Hivestack this month, this means we now represent close to 100 per cent of the industry in Australia."
According to figures released by Zenith, Australian advertising spend is expected to grow 5% in 2022, off the back of 18% in 2021.