oOh!media reports strong market for road, street furniture and retail

By AdNews | 12 May 2022

oOh!media, in a trading update at the company's AGM, says revenue grew 15% in the March quarter.

April paced slightly stronger at +18%.

However, the company says May will be impacted by the federal poll because OOH generally does not benefit from elections versus other media due to landlord restrictions on political advertising.

"We had strong performances in Road, Street Furniture and Retail – pacing at +14% above 2019 April YTD."

However, Fly and Office portfolios, still to catch up, were performing at 35% of 2019 levels.

CEO Cathy O'Connor: "The OOH media sector is returning to growth and we can be very confident that OOH will continue to gain share of the overall media pie."

The pandemic had a disproportionate impact on outdoor media due to the significant restriction of audience movements.

O'Connor: "However, by the end of 2021, with a largely vaccinated population and a lifting of government restrictions, we saw an immediate audience and revenue rebound in key formats of Road, Retail and Street furniture.

"This in turn led to an acceleration of media spend share gain in Q1 this year As we stand here today in Q2, the Out of Home industry is continuing to go from strength to strength.

"The sector’s industry body, the OMA now encompasses all key industry players. This demonstrates an intent to work together to advance the sector and it leads to a consistency of approach to the planning effectiveness of campaigns such that has not existed in the recent past." 

She says the next wave of growth is tied to better use of digital and continued digitisation.

Charts from the AGM presentation:

charts from oml agm may 2022

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