OMA reports a robust 11.8% growth in revenue in Q1

Posted on 6 April 2023

Q1 reported revenue of $259.4 million, up from $232.1 million for the same quarter in 2022

The Outdoor Media Association (OMA) has reported an increase of 11.8% in net media revenue for the out-of-home (OOH) industry in Q1 2023.

According to the industry body, Q1 reported revenue of $259.4 million, up from $232.1 million for the same quarter in 2022.

Digital OOH (DOOH) revenue accounts for 67.6 per cent of total net media revenue year-to-date, an increase over the recorded 57.6 per cent for the same period last year.

Elizabeth McIntyre, the new CEO of OMA, said: “The OOH industry has never been as nimble, focussed and unified, with a flurry of activity to start the year.

“From the Healthy Returns OOH campaign reaching 12 million Australians to encourage healthy food choices; to launching the OOH Toolkit which gives greater transparency into Attention, Reach, and Impact metrics for all signs; and, just last week, we hosted our first conference in partnership with the IAB, Powering DOOH, focussed on the potential of programmatic OOH for advertisers.

“Coming off the back of $1 billion in revenue in 2022, the sky is the limit for OOH and I look forward to leading the OMA and MOVE to drive this growth,” McIntyre concluded.

The OMA added two new members in quarter one: Gawk, a leading OOH provider in regional Victoria, and S&J Media Group who specialise in transit advertising from the Sunshine Coast to the Gold Coast, and Melbourne.

The Out of Home (OOH) industry is projecting an annual compound growth rate of nine per cent over the next four years.

The forecast adds to PwC’s conservative projections with the industry’s knowledge of its continued investment in inventory, the launch of the new measurement platform MOVE 2.0, and the growth of programmatic buying.

This comes after the Outdoor Media Association gathered members and guests to farewell CEO Charmaine Moldrich, earlier this week.

Around 150 current and OMA former colleagues, association members and invited guests gathered in the shadow of the Sydney Harbour Bridge in Walsh Bay on Friday evening.