The Out of Home (OOH) industry has announced an increase of 24% on net media revenue for 2021, reporting $812.7 million, up from $655.2 million for 2020.
Quarter four of 2021 saw an increase of 13.3% on net media revenue year-on-year, posting $247.6 million, up from $218.6 million for quarter four in 2020.
Digital OOH (DOOH) revenue accounts for 58.8% of total net media revenue year-to-date, an increase over the recorded 55.2% for the same period last year.
Net revenue year-to-date still trails pre-pandemic results, down 17.3% on the reported $982.3 million for 2019.
OMA CEO Charmaine Moldrich said, “We began the year cautiously optimistic for industry recovery, and while the second wave of lockdowns mid-May stymied momentum, revenue consistently tracked above 2020 levels. What’s more, December’s results mark the first month since revenue has risen beyond pre-pandemic levels, up seven per cent from December 2019.
“We’ve taken this time as an industry to bolster our platforms and processes to make Out of Home easier to plan and buy campaigns and measure their impact. Launched on 31 January, MOVE 1.5 and our Industry standards provide a world-first for buyers.
“And, importantly, with the OMA and MOVE attracting new members with the addition of Scentre Group, Tonic Media Network, and Hivestack this month, this means we now represent close to 100 per cent of the industry in Australia,” continued Moldrich.
According to figures released by Zenith, Australian advertising spend is expected to grow 5% in 2022, off the back of 18% growth in 2021. ANZ-Roy Morgan Consumer Confidence saw a small drop in the first week of January, down 2.4 points to 106.0. Confidence in future financial conditions remained unchanged, however, with 38% of Australians expecting they will be ‘better off’ financially this time next year.
“What this shows is people are still optimistic about the future, and this sets us up for another bounce back when the situation stabilises further. This is good news, and advertisers should be confident in Out of Home’s ability to deliver audiences particularly in transport, retail and roadside environments and continue to leverage the channel’s impact and creative potential,” concluded Moldrich.