Australian #OOH Announces Double Digit 2018 Growth
The Australian Out of Home industry has just announced an increase of 10.8% on net media revenue for 2018, reporting $927.2 million, up from $837.1 million for 2017.
Charmaine Moldrich, CEO, OMA told us “We are thrilled to mark industry growth for the ninth consecutive year, demonstrating that advertisers and agencies trust in OOH’s increasing ability to connect brands with our growing audience”.
Digital OOH revenue accounts for 52.3% of total net media revenue year-to-date, an increase over the recorded 47.3% for the same period last year.
Q4 2018 saw an increase of 9.8% on net media revenue year-on-year, posting $277.5 million, up from $252.8 million for quarter four 2017.
This release marks the start of a change in how the OMA reports its revenue numbers. This is due to recent changes in ownership in the OOH industry which may trigger compliance issues for the OMA’s ASX-listed members.
Charmaine Moldrich said “The OMA will make two additional market announcements following the release of results by listed members to the public. These announcements will be made twice-yearly after half and full year results are announced and will include the category breakdowns. Reporting as we did previously, opens the possibility for the market to interpret individual company performance prior to it being announced publicly”.
The OMA will make four quarterly announcements of total aggregated industry data, including the proportion of digital revenue. In these releases there will be no category breakdowns reported.
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