OOH sector records first month with revenues higher than pre-pandemic times

News 3 Feb 2022 - 2 min read

OOH sector records first month with revenues higher than pre-pandemic times

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"People are still optimistic about the future, and this sets us up for another bounce back when the situation stabilises further," OMA CEO Charmaine Moldrich says.

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Tags: outdoor media association Charmaine Moldrich

New industry standards, new metrics and an ad spend spike in December mean the Out of Home sector is optimistic 2022 will improve on two lacklustre years.

What you need to know:

Media revenues for Out of Home were up 24 per cent in 2021 on 2020, up to $812.7m from $655.2m
December 2021 was the first month up on prepandemic levels, up seven per cent on December 2019.

The Out of Home industry is hoping for a bounce back in 2022, after recording its first month with revenues above pre-pandemic levels in December.

Media revenues in 2021 were 24 per cent higher than 2020, up from $655.2 million to $812.7 million. But both years were substantially lower than 2019, where OOH revenues reached $982.3m.

But it was the green shoots of December, where revenues were seven per cent higher than December 2019, that has prompted the positive outlook. Likewise, digital OOH revenue now accounts for 58.8 per cent of total net media revenue in 2022, an increase on last year.

“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,” Charmaine Moldrich, Outdoor Media Association CEO, said.

Earlier this week, the OMA announced MOVE 1.5 would introduce new metrics for digital campaigns, including reach and frequency based on impressions that consider audience dwell, sign dwell, and Share of Time bought. It also adds Neuro Impact Factor, which is a qualitative metric that measures the impact the ad has on audiences.

Likewise, the OMA announced new industry standards that give planners and buyers clarity through agreed terminology, geography, screen ratios, insertion orders and Share of Time.

“Advertisers should be confident in Out of Home’s ability to deliver audiences particularly in transport, retail and roadside environments and continue to leverage the channel’s impact and creative potential,” Moldrich said.