The AdNews end of year Perspectives, looking back at 2023 and forward to next year.
I have always been an admirer of Out of Home (OOH) and how it can add so much creativity and dynamic to the built environment. People flock to Piccadilly Circus and Times Square to soak in the atmosphere. With revenue hitting the $1 billion mark and the game changing MOVE2 measurement system in development, now more than ever it's evident that Outdoor is on the verge of exciting opportunities and exponential growth.
My biggest initial revelation was— you don’t need tens of thousands of signs to reach critical mass: using different combinations of OOH formats can deliver 70 per cent reach across the five metropolitan markets in a single week for $500K; and for as little as $100K you could reach nearly a third of the population. In fact, a third or more of the weekly reach for a campaign can be delivered on the first day of a campaign.
This sort of reach is powerful, and positions Outdoor as an unrivalled broadcast channel at a time when we are seeing audience fragmentation like never before.
And then there’s MOVE2. I’ve spent the better part of this year engaging people around MOVE2: members, agencies, advertisers, and other stakeholders. Even my neighbours know that we’ll be measuring regional audiences for the first time, which is incredibly exciting.
Our new audience measurement system has been built with end-user consultation and endorsed by the Media Federation of Australia (MFA) and the Australian Association for National Advertisers (AANA). The revolution that will be MOVE2 will fill the gaps that MOVE didn’t have the capacity for, including seasonal changes and regional and place-based audiences. And we’re seizing this opportunity to provide greater granularity— which means a lot of data.
We’re working hard to put systems into place to ensure an amazing user experience, and this is spinning us into some truly innovative work. Our focus on better measurement and data-driven insights will present new opportunities for advertisers. Our commitment to transparency and the evolution of MOVE2 will fuel future growth and adaptation in an evolving media landscape.
The industry is poised to enter a new realm of measurement never seen before, which is a big education piece and a journey we have only just begun.
With innovation and change comes new challenges, and in 2024 we’ll work to demonstrate once and for all that Outdoor, TV and Online are an effective combination that improves ROI. The proof is in results and we’ll be rolling out new research and case studies proving our effectiveness as a stand-alone channel and part of a multi-channel campaign, across a variety of categories.
Our narrative to government also continues, and is a strong message: that we are part of the community and a responsible media channel, working to build trust with our clients and the public. The recent study Advertising Pays by Deloitte is a good first step for the broader industry to talk about our value and contribution.
In Outdoor, we have a more direct impact, with our contribution to infrastructure, and providing a profitable revenue stream to government. We will be doing an update to our own study in the coming months diving deep into the industry and talking about our value.
We are on the precipice of a year filled with innovation, challenges, and progress, but one thing is abundantly clear: timing continues to be our ally, and the Outdoor industry is poised to embrace the future with unyielding enthusiasm and purpose. Together, we move forward into 2024 with great anticipation and a shared vision for a thriving and evolving landscape, in Out of Home.
Elizabeth McIntyre is the CEO of OMA and MOVE
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 adnews@yaffa.com.au
Sign up to the AdNews newsletter, like us on Facebook or follow us on Twitter for breaking stories and campaigns throughout the day.