The Outdoor Media Association (OMA) has revealed the Out of Home (OOH) industry has had an increase of 25.5% on net media revenue for Q1 2022, reporting $228.1 million, up from $181.7 million for the same quarter in 2021.
Digital OOH (DOOH) revenue accounts for 60.8 per cent of total net media revenue year-to-date, an increase over the recorded 57.0% for the same period last year.
Charmaine Moldrich, OMA CEO, said: “The industry continues to rebound in the first three months of the year, with revenue down only slightly, by 2.9 per cent on pre-pandemic 2019. There are many signs that we are back on track and that 2022 will see us achieve or even exceed pre-pandemic annual revenue.
“Our commitment to transparency, accuracy and credibility in our audience measurement platform MOVE 1.5 and adoption of industry-wide standards to make it easier to plan and buy, have helped with our recovery.
“We have built tools and introduced processes that specifically fill the needs of our clients, and we are now starting to see the positive results.”
She added: “As travel increases with the easing of testing requirements, we expect to see even more confidence in our channel’s ability to deliver reach and impact.”
The OMA added two new members in March 2022: Helio, an online advertising marketplace, and Civic Outdoor, an independently owned and operated Outdoor operator also joining MOVE.
Civic Outdoor is an independently owned and operated Outdoor operator with a network of signs ranging from large format billboards in Melbourne, Adelaide and Regional Victoria to small format sites across Victoria, New South Wales, Queensland, South Australia, ACT and Tasmania.
Helio is an online advertising marketplace connecting buyers and sellers, making it easy for small, medium and large businesses alike to buy advertising. Helio has been carefully designed, based on years of media experience, to simplify the workflows unique to advertising such as campaign building and creative delivery.
According to figures released by Zenith, Australian advertising spend is expected to grow 5% in 2022, off the back of 18% growth in 2021.