The Out of Home (OOH) industry has reported a 12.2% increase in net media revenue for 2023, totalling $1,193.7 million, up from an adjusted figure of $1,063.6 million for 2022. The fourth quarter of 2023 saw a 10.9% increase in net media revenue year-on-year, posting $366.6 million, up from $330.7 million for the same quarter in 2022.

Digital OOH (DOOH) revenue accounted for 73.9% of total net media revenue year-to-date, an increase from the recorded 64.5% for the same period last year. In 2023, the OOH industry saw the launch of OASIS, the boom of Programmatic buying, and the development of MOVE2.

"In 2023, we have seen our members invest into the future of the Out of Home channel, with the launch of OASIS, the boom of Programmatic buying and the development of MOVE2. This is a testament to our industry’s commitment to offering transparency and accountability for every dollar spent on OOH." said Elizabeth McIntyre, CEO of the Outdoor Media Association (OMA).

The launch of MOVE2 is expected to bring change to the industry with the new capacity for seasonal variance, and regional and place-based audiences to be captured in the Audience Measurement System. "Our industry will be able to dive into the data and provide accurate insights to OOH buyers. Our efforts are focused on establishing robust systems that ensure exceptional user experience." McIntyre added.

The Deloitte 2023 Advertising Pays Report found that in 2022, $17.7 billion was spent on advertising in Australia, contributing to 2.1% of GDP for the same year. The OMA is actively shaping the future of the Outdoor industry, moving into 2024 with nearly 100% of the industry.

"As we embark on the journey into 2024, the Outdoor Media Association finds itself actively shaping the future of the Outdoor industry. Together, with nearly 100 per cent of the industry, we move into a year of challenges, possibilities, and change. The journey has just begun." said McIntyre.