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Billboards catch our eyes,
Digital growth in the skies,
Revenue on rise.
OMA publishes category breakdowns for OOH's 12.23% net media revenue growth in 2023
The Outdoor Media Association (OMA) has reported the full year net media revenue results for the out of home (OOH) industry in 2023, including category breakdowns.
As previously reported, the industry saw a 12.23% increase to $1,193.7 million in net media revenue in 2023.
In Roadside Billboards net media lifted to $507.8 million, compared to $466.5 million in 2022.
The Roadside other category, which encompasses street furniture, bus/tram externals and small format grew to $271.3 million, compared to $238.6 million in 2022.
Transport, including airports, lifted to $140.8 million compared to $100.7 million in 2022, and Retail, lifestyle and other grew to $273.8 million up from $257.9 million in the previous year.
The Digital Out of Home (DOOH) sector accounted for a significant 73.9% of the total net media revenue year-to-date, marking an increase from the 64.5% recorded for the same period last year.
The rise in DOOH's share of total net media revenue year-to-date indicates a shift towards digital formats in the OOH industry. This trend aligns with broader shifts in the advertising industry towards digital platforms and technologies.
The figures encompass the membership of the OMA, which is estimated to represent close to 100% of the OOH industry in Australia. The figures released are net figures, excluding commission, production, and installation costs.
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