The Australian out-of-home (OOH) industry has announced its seventh consecutive year of net media revenue growth, posting a 15.8%* overall increase on net media revenue year-on-year, taking the industry’s net media revenue to a record high of $789.5 million, up from $682.1 million* in 2015.
Topping off a third year of double-digit growth, which saw consistent year-on-year increases, quarters one, two, three and four saw growth of 19.1%, 18.2%, 14.8% and 12.5% respectively.
In December, the industry posted a monthly net media revenue of $78.5 million, an increase of 13.2%, completing quarter four with an increase in net media revenue of $241.8 million, up 12.5% year-on-year.
The Digital OOH share of net media revenue also continued to grow in 2016: 36.0%, 37.3%, 38.8% and 40.2% respectively across the four quarters.
“It’s undeniable that OOH is on the rise. According to the CEASA 2016 half-year update, OOH and Online were the only media channels to experience growth, with OOH overtaking revenue spent on regional television advertising. And as our cities become more populated – 94% of Australians are expected to be living in cities by 2050 – OOH offers the biggest audience in town. This puts us in a very enviable position as we head into 2017,” said Charmaine Moldrich, CEO of the Outdoor Media Association (OMA).
According to the 2016 MOVE data update, OOH audiences grew 20.3% over the last six years, over-indexing population growth of 13.0%. “We know OOH is becoming more than the channel with the biggest reach, it is increasingly a targeted and accountable channel,” Moldrich added.
“Our intention is to keep abreast of this rapidly changing media market and in 2017 our world class Audience Measurement System – MOVE – will be enhanced through the integration of customer data from emma (Enhanced Media Metrics Australia). This will give media planners the ability to segment audiences like never before by delivering more relevant and targeted messages. This is going to be a very powerful tool in the OOH arsenal, if not the game changer, in the years ahead.”