Out of Home industry extends growth trend with solid results in Q3

The Out of Home (OOH) industry has announced an increase of 10.06 per cent net media revenue for Q3 2024, reporting $315 million, up from $286.2 million for the same quarter in 2023.

Digital OOH (DOOH) revenue accounts for 74.5 per cent of total net media revenue year-to-date, an increase over the recorded 72.4 per cent for the same period last year.

“The continued growth in revenue this quarter is a clear indicator of the industry’s strong momentum as it continues to evolve and thrive. The 10.06 per cent increase in net media revenue highlights advertisers’ growing confidence in the effectiveness of OOH, particularly as digital innovations continue to enhance its capabilities,” says General Manager of the OMA, Kylie Green.

Year-to-date net revenue has increased 8.75 per cent from the same time in 2023 and is $908.2 million.

“The growth we are seeing this quarter is not just a reflection of past success but also a positive signal for what lies ahead,” concluded Green.