Revenue for out-of-home increased by 1.5% to $935.5 million on net media revenue for 2019.
The results are up from $921.3 million for 2018. However, the fourth quarter for 2019 was down 2.3% on net media revenue year-on-year, at $269.9 million, compared to $276.3 million during the same period the year prior.
Digital out-of-home revenue accounts for 55.8% of total net media revenue year-to-date, up from 52% for the same period last year.
“Last year marked our tenth consecutive year of growth – reflecting advertiser trust in the channel and investment into a data-driven digital network,” says Charmaine Moldrich, CEO of industry body Outdoor Media Association.
“The latter part of 2019 was a challenge for the advertising industry as a whole. We are pleased that out-of-home maintained its position as one of the few growing media channels.
Moldrich describes the results for 2019 as being relatively stable in a difficult market, which has seen the advertising sector take a hit.
The last Standard Media Index (SMI) figures show the 15th consecutive month of negative growth in media agency bookings.
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