Despite the barometer dropping, the out of home (OOH) hot streak has continued, with the sector reporting a 19.5% increase for the month of April compared to the same period last year, according to figures from the Outdoor Media Association (OMA).
Net revenue for April 2015 climbed to $48.8 million compared to $40.8 million in April 2014. Year-to-date revenue has increased by 21.0%, reaching $196.7 million, up from $162.5 million for the same time last year.
Roadside billboards had the greatest spend in April with $17.5 million in revenue followed by other roadside – including street furniture, taxis, bus/tram externals and small format on $15.0 million in revenue.
Transport, including airports, reached $8.2 million and retail reached $8.1 million in revenue.
The OMA noted the strength of the industry, citing figures from the Commercial Economic Advisory Service of Australia (CEASA) which found outdoor grew from 4.8% to 5.2% market share.
“This is great news for the industry, coming off our 10% revenue growth last year,” the OMA said. “It's especially great news because we believe our share is under-represented in the Australian market.”
But the OMA stressed the importance of the industry continuing to improve, noting that making the buying and selling of OOH easier is its next challenge.
“While we trumpet our glory, it's important to remember that in this changing media environment we can't rest on our laurels,” it said.
“In order to remain at the top of our game we need to keep innovating and harnessing the benefits this tech revolution affords us.”
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