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.
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