Out of home poised to rebound in Q4

The Out of Home (OOH) industry has announced an increase of 50.5 percent on net media revenue for the third quarter of 2021, reporting $159.2 million, up from $105.8 million for the same period in 2020. Digital OOH (DOOH) revenue accounts for 61 percent of total net media revenue year-to-date, increasing over the recorded 58.3 percent for the same period last year.

Year-to-date revenue has increased 29.3 percent and is sitting at $533.9 million, rising from $412.8 million* on 2020 revenue.

Charmaine Moldrich, OMA CEO, said, “Our recovery to July this year indicated advertiser’s unwavering confidence in Out of Home’s effectiveness when lockdowns end. While the current lockdowns in New South Wales and Victoria have momentarily slowed down our compelling recovery story, we are optimistic that quarter four, usually our best quarter, will take off with increased spend going into the summer period. High vaccination rates are fuelling this optimism, with more people out and about very soon.”

“All eyes are now on what we are doing to innovate the channel and make it an even more attractive buy into 2022. In November, the industry will launch a suite of initiatives at a virtual OUT-FRONT event for agencies and advertisers that will set the stage for future audience measurement and campaign planning and buying,” Moldrich continued.

The announcement came after the OMA released the findings of its neuroscience study into the impact of OOH signs on the human brain. Which is an additional tool to help agencies and advertisers plan and buy their OOH campaigns.

Moldrich went on to say, “ for us; it’s full steam ahead to get our new programs and initiatives into the palms of agencies’ and clients’ hands in the new year. And with freedom just around the corner, there is much to celebrate about being finally back out, about and together again.’