OOH industry reports record growth in Q3

By AdNews | 5 October 2023

The out-of-home (OOH) industry has today announced an increase of 14.6% net media revenue for Q3 2023, reporting $283.3 million, up from $247.2 million for the same quarter in 2022.

Digital OOH (DOOH) revenue accounts for 68.5% of total net media revenue year-to-date, an increase over the recorded 57.9% for the same period last year.

Year-to-date net media revenue has increased 12.8% from the same time in 2022 and is $826.9 million.

OMA CEO Elizabeth McIntyre said the OOH channel is reaping the benefits of being the only remaining broadcast media as audiences continue to fragment.

"With 82% of people leaving home each day, OOH is where advertisers are guaranteed to find their audience," she said.

"As we continue to innovate and move toward providing more granular data, we’ll see the channel become even more nimble and targeted.”

Henry Fisher, senior director of client success and analytics for APAC at Vistar Media, said it's no surprise to those within the OOH category to see strong quarter on quarter results.

"More marketers and brands are taking advantage of the power and addressability of the channel, and the value it brings to their overall business objectives," he said.

“These strong results, and the increased adoption of programmatic OOH will help maintain momentum into 2024. With targeting capabilities, advanced measurement, and dynamic solutions continuing to evolve, we expect category growth to continue.”

In 2024, MOVE will launch its new world-first audience measurement system, providing data for over 100,000 signs nationwide, including regional. The platform is being built using mobility data from one of the largest surveys ever undertaken in Australia, by MOVE and Ipsos Australia.

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