The out-of-home (OOH) sector net media revenue grew 9.26% to $287.6 million in the March quarter 2024, according to industry body the Outdoor Media Association (OMA).
Digital OOH (DOOH) revenue accounts for 74.1% of total net media revenue year-to-date, an increase over the recorded 70.7% for the same period last year.
OMA CEO Elizabeth McIntyre said the OOH industry has never been as nimble, focused, and unified, with a flurry of activity to start the year.
“From the ‘Fresh veg, deliciously affordable’ OOH campaign being our industry’s largest campaign yet, valued at more than $12.3 million; to launching the next phase of MOVE which gives greater transparency into Attention, Reach, and Impact metrics for all signs,” she said.
"Just last week, we hosted our second conference in partnership with the IAB, Powering DOOH, focused on the potential of programmatic OOH for advertisers.
“After achieving $1.2 billion in revenue in 2023, I am eager to lead the OMA and MOVE initiatives to propel the continued expansion of the OOH sector.”
The OOH industry is projecting an annual compound growth rate of 9% over the next four years.
The forecast adds to PwC’s projections with the industry’s knowledge of its continued investment in inventory, the launch of the new measurement platform MOVE, and the growth of programmatic buying.
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