The winter months don't mean hibernation. The out of home advertising sector has seen another boost in revenue over the season, rising 12.2% in the third quarter compared to this time last year, according to the Outdoor Media Association.
Figures supplied by the OMA showed revenue for the OOH sector hit $149.7 million during the period, up from $133.4 million for the third quarter of 2013.
In addition, year-to-date revenue increased by 7.8%, reaching $413.6 million from $383.5 million in from the same period last year.
OMA results also claim that digital expansion was “unprecendented” in 2014, with more than 150 digital screens installed across australia and digital accounting for in 15.8% of total revenue over the quarter. The result is a jump from 13.9% in the second quarter of 2014 and 11.3% reported at the end of 2013.
OMA chief executive Charmaine Moldrich said the sector's innovation with adopting technology as well as partnering with traditional “winter” mediums like TV and online is partly behind the sector's growth over the quarter.
“Outdoor is the only traditional advertising medium still seeing growth, and we attribute this to our versatility and innovative use of technology. Opportunities for consumer engagement will only increase through the convergence of mobile and digital technology,” Moldrich said.
But winter isn't the only time for OOH advertising according to OMA. The results follow research from the association claiming 54% of people believe they are “more aware” of outdoor advertising over summer, particularly those who have kids or are between the ages of 18-24, a the industry looks to bolster outdoor spend in summer months.
Moldrich said over the last 10 years, there tends to have been a slump in total ad spend over summer months, but that advertisers who "send their brands on holidays" during the season should think again.
Need a job? Visit adnewsjobs.com.au.
Have something to say? Send us your comments using the form below or contact the writer at email@example.com.
Have something to say on this? Share your views in the comments section below. Or if you have a news story or tip-off, drop us a line at firstname.lastname@example.org