OOH revenue grows
The Out-of-Home (OOH) industry has reported its ninth consecutive quarter of growth this week in revenue.
In the quarter to 31 March 2012, the OOH have shown an increase in sales revenue to $117.3m, up 4% on the previous calendar period. Overall, the industry grew 3.5% in CY11.
Charmaine Moldrich, CEO of the Outdoor Media Association (OMA) said:
“We are in the enviable position of being on 24/7, delivering messages to mass audiences. This is making OOH increasingly relevant in today’s market where media channels are becoming more fragmented.
We are cost effective and can prove our outstanding results to clients through MOVE (Measurement of Outdoor Visibility and Exposure). We also understand that people’s media consumption habits are changing and we are embracing new technologies that help drive great outcomes for advertisers.”
Given there is a long running, and continuing, debate over radio moving to electronic measurement, the OOH revenue growth being attributed, at least in part, to a more effective and trusted measurement methodology is worth noting.