What is happening?
The Out of Home (OOH) industry in Australia has welcomed an increase of 125% in media revenue for the second quarter of 2021, compared to the same period last year.
What are the numbers?
A new report from the Outdoor Media Association (OMA) showed OOH revenue grew to $203.3 million, more than double the $90.3 million revenue from the 2020 period.
What about Digital OOH?
Digital OOH revenue also increased by 57.9% compared to last year, now accounting for 61% of total media revenue. According to OMA, the OOH charge is being led by advertisers wishing to break into new markets, or buying OOH campaigns for the first time.
With OOH revenue increasing year on year, companies in industries such as tech are looking to attract new customers and remain in the spotlight. Outdoor can help companies anchor their brand in the real world, an advantage many advertisers are now looking to leverage.
Out of Home Recovery
Year to date revenue has increased 22 per cent, now sitting at $374.6 million. This highlights a significant increase when compared to the $307 million revenue (year to date) of 2020.
“Out-of-home advertising felt the full brunt of the pandemic at the height of lockdowns in Q2 2020, which explains the explosive increase of 125% year-on-year,” said Charmaine Moldrich, OMA CEO.
“A better indication of our recovery is that we are only down by 17% on pre-pandemic revenue from Q2 2019. Each month this year has been better than the previous month.”
Your ADMATICian would love to discuss what this surge in OOH could do for your brand, reach out to learn more.