Page 11 - AdNews Magazine May-June 2022

Agenda
Outdoor media
resumes its climb
Out-of-home rides high as Australians start moving again.
WORDS BY
CHRIS PASH
QMS in Queensland.
Outdoor media has resumed its place as a growth media, as Australians taste freedom from pandemic restrictions.
Ad spend, as measured by media agency bookings, showed January just 2.6% behind pre-COVID 2019, according to SMI (Standard Media Index). The Outdoor Media Association (OMA) reported a 25.5% increase to $228.1 million in net media revenue for the March quar- ter this year, up from $181.7 million for the same three months in 2021.
And industry players are fore- casting a return to pre pandemic levels this year. Investment bank Jefferis: “Our analysis suggests out- door ad revenues have com- menced a strong recovery phase.”
The bank’s analysts see earn- ings for ASX-listed oOh!Media to fully normalise by the 2023 finan- cial year to above pre-COVID: “Thereafter, the outdoor industry should continue its pre-COVID market share gains that were evi- dent for ten years up to 2019.”
Charmaine Moldrich, chief executive, OMA: “While our signs are big, and our reach is just as great as TV and online, we attract only 7% of media share overall. In dollar terms that represents $1 bil- lion of net media revenue annually. The evolving media landscape over the last decade has seen us gradu- ate from sixth to third most bought media channel in agency land.”
In 2014, a little over 17% of OOH
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