Digital Billboards Drive 10th Straight Year of Outdoor Growth
Australian Out of Home (OOH) industry media revenue increased by 1.5 percent for 2019, reporting $935.5 million, up from $921.6 million in 2018. Digital accounted for 55.8% of total revenue, up by 3.8 percent.
This was despite a fall in Quarter four 2019, which saw a decrease of 2.3% on net media revenue year-on-year, posting $269.9 million, slightly down from $276.3 million* for quarter four 2018.
Digital OOH (DOOH) revenue accounted for 55.8% of total net media revenue year-to-date, an increase over the recorded 52.0% for the same period last year.
“Last year marked our tenth consecutive year of growth – reflecting advertiser trust in the channel and investment into a data-driven digital network,” said Charmaine Moldrich CEO of the Outdoor Media Association (OMA). “Out of Home has proven to be a true broadcast medium and plays an ever more important role in the community, as seen with OMA members’ support for the bushfire appeal.
“The latter part of 2019 was a challenge for the advertising industry as a whole. We are pleased that Out of Home maintained its position as one of a few growing media channels.”
Moldrich added: “Out of Home has the advantage of being ‘always-on’ and plays an essential role in the media mix. Our relative stability in a difficult market environment reflects our inherent value to advertisers.”
* Previously released revenue figures have been adjusted to reflect changes in the OMA membership.
Australian outdoor leader oOh!media – owner of wide format printer Cactus Imaging – upgraded its FY19 earnings guidance in December 2019 on improved bookings in the fourth quarter.
In August 2019, oOh! had announced FY19 earnings guidance in the range of $125 million to $135 million. The company issued revised FY19 earnings guidance of between $138 million to $143 million, excluding integration costs and the impact from the change in accounting standards.
Source: Wide Format Online & Inkjet News (photo: billboardsaustralia.com.au)
