The Out of Home (OOH) industry announced an increase of 43.7% on net media revenue for the third quarter of 2022, reporting $244.6 million, up from $170.2 million for the same quarter in 2021. Digital accounts for 62.5% of media revenue year-to-date, an increase over the 57.6% for the same period last year.
The OMA said year-to-date net media revenue is sitting at $725.3 million, an increase from 26.5 per cent on 2021 and sitting behind pre-pandemic 2019 by -2.8 per cent.
“Quarter three sees the industry almost on par with pre-pandemic revenue, only .8 per cent down from 2019,” said OMA CEO Charmaine Moldrich. “This continued growth is in line with our projections for recovery. Driving our success is our concerted effort as an industry to launch new research and tools into the market.
“To-date in 2022 the OMA has launched a raft of tools making easier to plan and buy Out of Home campaigns. This includes the Neuro Impact Factor (NIF), a qualitative metric which goes beyond attention to measure the impact of Out of Home campaigns. The NIF is part of the upgrade of MOVE which allows for the measurement of digital campaigns; both metrics are supported by industry-wide standards," Moldrich said.
“These initiatives, and the building of the new measurement platform MOVE 2.0, have undoubtably spurred the raft of new members, with eight so far this year, bringing us close to representing a 100 per cent of the industry.”
The OMA has added three new members this quarter: Blue Tongue Outdoor, SureVision and Veridooh.