OohMedia is on track to generate the majority of its revenue from digital panels after a strong year of revenue growth.
The addition of thousands of new digital panels not only creates far more opportunities for advertisers to place ads, the immediacy of digital that allow ads to be changed instantly, improves the breadth of ad products Ooh!Media has been able to offer, which CEO Brendon Cook said was being well received by all advertiser categories.
“Previously we had been strong with parts but the breadth of the products has changed the reasons people can now use the media,” Cook said in an investor call.
The outdoor company's total revenue was up 20.1% to $336.11 million, while the underlying EBITDA was up 27.4% to $73.5 million.
The growth is largely being driven by digital revenue, which increased by 72% to $153.3 million and now accounts for 45.6% of the total, up from 31.9% in FY15.
In the past year, the number of OohMedia digital screens increased from 5,000 to 8,000, including 100 new large format digital screens to 190 in total.
OohMedia's digital network now comprises 54 road digital screens, 1,600 retail digital screens (including 72 large format Evoke screens), 500 internal Fly airport panels, 4,800 Locate by Ooh Screens in the CBD, gyms, universities and cafes and eight proprietary platforms.
The acquisition of Junkee media has increased OohMedia's content and native advertising capabilities as the company looks to create more engaging content and native advertising capabilities.
The merger with APN will go to a shareholder vote in April.
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