Out-of-Home records full year growth of 3.4%
The Out-of-Home (OOH) industry ended 2011 posting a healthy 3.4% increase on net revenue year-to-date of $494 million, up from $477 million in 2010.
Net revenue for the last quarter, October to December 2011 was up by 1.9%, $152 million compared to $149 million in 2010.
These are buoyant revenue results, given the soft media market the industry has been operating in and seeing traditional media channels losing market share. The last quarter of 2011 saw the industry post its eighth consecutive quarter of growth.
In September 2011 the industry released its MOVE (Measurement of Outdoor Visibility and Exposure) figures for 2010 which saw an overall increase in measured audience of 13.6%. Audiences are up in all five markets: 5% in Sydney, 8% in Brisbane, 15% in Melbourne and 20% in both Adelaide and Perth. Since 2002 the industry has grown a massive 91% which proves the power of the medium to return solid Return on Investment to its clients.
Charmaine Moldrich, CEO of the Outdoor Media Association (OMA) said, “We are pleased to see the market recognising the OOH industry as a solid media performer, proving that OOH is a powerful medium to use even when the economy is soft.” “MOVE has been instrumental in proving that OOH reaches consumers frequently in a very cost effective way. We provide advertisers with innovative ways to reach their target audiences in a tight economic climate.”
source: Outdoor Media Association.