The out of home (OOH) industry has recorded its most successful quarter to date, with net revenue year on year hitting $149.9 million, according to figures from the Outdoor Media Association (OMA).
The figure is a 22.4% boost on the quarter, up from $122.0 million for the first quarter 2014. It follows on from a revenue boost in 2014, up 10% from the prior year.
The OMA also found that monthly results had been positive. OOH recorded a 18.6% increase for January and a 23.8% increase for February year on year. March saw net revenue of $58.4 million, which marks a year on year increase of 24.2%.
OMA CEO Charmaine Moldrich said the results speak to the effectiveness of the OOH medium.
“As audiences continue to fragment for other advertising channels, the outdoor audience grows when population increases,” Moldrich said.
“We attribute our revenue growth to the effectiveness of the medium: nine out of 10 people leave home each day, which means that outdoor reaches more people on a daily basis than any other media.”
The OMA noted growth occurred across outdoor formats with roadside billboards increasing to $53.9 million compared to $42.3 million in the first quarter of 2014 and other roadside, which includes street furniture, small format and bus externals, reaching $47.3 million from 45.3 million prior.
Transport, including airports hit $29.0 million from $19.5 million in Q1 2014, and retail reached 19.5 million from 15.0 million prior.
In addition, digital revenue is at 21.0% of total net outdoor revenue, which is an increase from the 18.8% recorded in 2014.
Moldrich said the software update for its measurement system Measurement and Outdoor Visibility and Exposure (MOVE) and a continued focus on digital will continue to boost outdoor going forward.
“We also have benefited greatly from new technology: not only with sampling, customer engagement and mobile innovations, but also with new digital billboards which shorten campaign lead-times and allow for more targeted messages,” Moldrich said.
“Simplifying the buying and reporting of outdoor will help our industry continue its growth trajectory.”
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