OMANZ Announced Strongest #OOH Q3 So Far
The Out-of-Home Media Association of New Zealand (OMANZ) recently reported the continued growth of the out-of-home sector with net media revenue in the July-September 2019 period increasing by 22% year on year.
OMANZ member revenues were reported as $36.07m in Q3 2019 up from $29.53m in the same period in 2018. The Calendar Year to date revenue has increased 18% with members posting $100.14m 2019 versus $84.63m for the same period in 2018.
Digital out-of-home continues to be a significant contributor to overall out-of-home revenue growth, accounting for 61% ($22.12m) of all revenue in Q3 2019, the highest share to date.
OMANZ Chairman, Nick Vile told us “Digital Out of Home is continuing to be supported by advertisers who recognise its ability to captivate audiences by adapting messages to deliver dynamic and relevant campaign messaging. With an increase in demand for our medium, we are also seeing improved yield conversion; the growth in revenue isn’t matched by growth in digital out-of-home inventory which has been stable at 12% of total inventory since October 2018. We are also seeing a stabilisation of revenue from the static formats which remains a cost-effective channel for advertisers to build audience reach.”
Vile continued “when you consider the media agency channel, SMI reported negative growth for the Jan – Aug period of -.5% versus out-of-home at 12.5%. This is a very strong indicator of the value advertisers are placing on out-of-home as an important part of their media mix.”
The Outdoor Media Association of NZ (OMANZ) is a not-for-profit, professional, cohesive industry body, representing key Outdoor Media display companies who collectively contribute approx. 87% of total out of home advertising industry revenue.
OMANZ’s key focus is to educate and raise awareness of the role of Out of Home media within the community, to build and sustain relations with its key stakeholders, to develop best practice industry standards and to provide services to its members.
OMANZ is governed by a board of directors who are all committed and passionate about raising the profile of out of home advertising in the New Zealand market. Members of OMANZ adhere to a Code of Practice and abide by the regulatory frameworks in which they operate.
OMANZ media display members: JCDecaux, oOh! Media, Media5, QMS, Ad-Vantage Media and Bekon Media.
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