The Out of Home (OOH) industry has increased net media revenue by 6% to $837.1 million in 2017 – the industry’s eighth consecutive year of growth, the Outdoor Media Association (OMA) reports.
Fourth quarter revenue grew 4.5% year-on-year to $252.7 million compared with $241.8 million in Q4 of 2016.
Digital OOH (DOOH) revenue accounted for 47.3% of total net media revenue, up on the 40.2% for the same period last year.
Roadside billboards account for the largest share by category, up 12% to $332.6 million, while transport media, including airports, was the only category have a revenue decline of 1% to $135 million.
However, transport had better gains in the final quarter of 2017, with revenue up 5.6% to $43.4 million. Surprisingly, the retail and lifestyle category had revenue drops in the lead up to Christmas, down 3.7% to 41.4 million over Q4.
The growth in revenue is partly due to a transition to digital panels that allow media owners to sell far more advetising space on rotation than with static billboards, and also unlock far more sophisticated messaging and targeting opportunities.
“We know that OOH audiences have grown by 23% over the last seven years, over-indexing population growth of 14.9%. This continued wave of growth puts us in an enviable position as we head into 2018,” OMA chief executive Charmaine Moldrich says.
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