The out of home industry (OOH) achieved a net media revenue of $59.2m, a 2.1 per cent increase for the month of February compared to the previous year. The year to date growth of the out of home industry is now at 6.7 per cent.
Digital OOH net media revenue makes up 43.8 per cent of total net media revenue year to date, up from 33.7 per cent for the same period last year as the major infrastructure operators race to get digital boards up.
Charmaine Moldrich, CEO, Outdoor Media Association says, “Out of home is delivering growth, and we anticipate that this will continue as a result of the industry’s investment in digitisation, insights and innovation to drive results for advertisers.”
For February, roadside billboards earned $23.9m, other roadside signage came in at $15.9m, Transport made $9.8m and retail, lifestyle and other received $9.7m.
[Related: Out of home hits record Jan revenue]
Moldrich says she cannot predict how the rest of the year will look like by looking at monthly figures.
“I think a month is really hard to look at as a trend, I would be waiting for the Q1 figures to see what it looks like compared to last year. Do I think that growth will continue? yes,” she says.
Moldrich says you cannot compare digital billboards with classic billboard in terms of growth.
“I think they are part of the ecosystem of outdoor advertising, I do not necessary think classic or digital billboards are better than the other, you can talk about one or the other, and look as it part of the ecosystem. I do not think the revenue has gone down for classic, you are seeing greater growth in digital. It is not classic declining, its digital growing faster,” she says.
The OOH industry finished 2016 with a 15.8 per cent increase, taking the industry’s net media revenue to a record high of $789.5m, up from $682.1m in 2015.
The OMA is the peak industry body which represents most of Australia's outdoor media display companies and production facilities, and some media display asset owners.