OOH Grows by 43%

The Out of Home (OOH) industry has today announced an increase of 43.7 per cent in net media revenue for the third quarter of 2022, reporting $244.6 million, up from $170.2 million for the same quarter in 2021. Digital OOH (DOOH) revenue accounts for 62.5 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.

Year-to-date net media revenue is at $725.3 million, an increase from 26.5 per cent from 2021 and behind pre-pandemic results in 2019 by -2.8 per cent.

“Quarter three sees the industry almost on par with pre-pandemic revenue, only 0.8 per cent down from 2019. This continued growth is in line with our projections for recovery. Driving our success is our concerted effort as an industry to launch new research and tools into the market,” said Charmaine Moldrich, CEO, the OMA.

“To-date in 2022 the OMA has launched a raft of tools making easier to plan and buy Out of Home campaigns. This includes the Neuro Impact Factor (NIF), a qualitative metric which goes beyond attention to measure the impact of Out of Home campaigns. The NIF is part of the upgrade of MOVE which allows for the measurement of digital campaigns; both metrics are supported by industry-wide standards.”

“These initiatives, and the building of the new measurement platform MOVE 2.0, have undoubtably spurred the raft of new members, with eight so far this year, bringing us close to representing a 100 per cent of the industry,” concluded Moldrich.