The out of home (OOH) industry has announced an increase of 5.2% on net media revenue year-on-year in the second quarter of 2019, posting $237.3 million, up from $225.6 million for the second quarter in 2018.
$237.3 million, up from $225.6 million for the second quarter in 2018.
The Outdoor Media Association reports digital revenue is sitting at 55.5% of total net media revenue year-to-date, an increase over the recorded 49.8% for the same period last year.
“Our industry continues to evolve and grow with the media landscape, offering advertisers a variety of solutions from location-based broadcast campaigns to flexible, time-sensitive solutions on our members’ digital networks. Our strength continues to be our place in the community as the ‘always on’ channel that connects advertisers with people,” said Charmaine Moldrich, CEO of the OMA.
“In 2018 we saw the industry’s market share grow to 6.2% – we were only one of two media channels to grow last year. We credit this growth to investment in technology and research coupled with our ability to reach large audiences. We continue to build a modern, dynamic channel with scale, now reaching 93% of Australians where they live, work and play,” Moldrich added.
The revenue announcement comes on the heels of the release of the OMA’s 2018 annual report, which reported double digit growth for the industry in 2018 with an increase of 10.8% on net media revenue, posting $927.2 million, up from $837.1 million for the previous year.