New Zealand Outdoor Media shows 13.4% growth in annual revenue
By VJ Media Bureau - March 25, 2014
The New Zealand Outdoor media investment now stands at 3.3% of all media spend following a growth in annual revenue of 13.4% year-on-year over 2012.
Adam McGregor - GM OMANZ (Outdoor Media Association of New Zealand), said, "This is a stand out performance, with only Interactive and Cinema showing such healthy double-digit growth. This performance is in-line with the growth in OMANZ member revenue for 2013, released in January this year. It's clear that Outdoor is benefiting from the re-direction of advertising dollars away from TV and Newspapers, as well as the continued meteoric rise of Interactive. According to Neilsen data the most notable categories of increased investment are Investment/Finance +60%, Household Furnishings +60%, Telecoms +70%, Business Services +100%, Accessories +104%, Pharmaceuticals +128% and Industrial +217%. This is all very encouraging, as is the 5.1% increase in all media revenue.â€
OMANZ Chair, Wayne Chapman said, "This is a terrific result for our members and a further ringing endorsement for the value and relevance of OOH in NZ. Our sector has shown a commitment to investment and innovation, and it is this continuing focus that underpins our confidence in a sustainable future growth trajectory. OOH is ideally positioned to benefit as more critical scrutiny is placed on diminishing returns from lead channels in light of changing consumer behaviour and media consumption. OMANZ members take encouragement from the continued increase in investment in the sector and remain focused on pursuing our goal of 5% market share.â€