Outdoor advertising has risen by 10 per cent in 2014, according to a new report released by the Outdoor Media Association (OMA).
The industry’s net revenue increased to $602.1 million in 2014, up from 2013’s adjusted revenue of $547.6 million.
Charmaine Moldrich, OMA CEO, said the numbers have solidified the value of Outdoor in the media plan.
“What is so exciting about the 2014 results is that we are seeing growth across all formats. Technology is driving some of this, with the uptake of digital and mobile integration, but traditional, static formats are winning too,” Ms Moldrich said.
“The potential for Outdoor to innovate and engage with consumers is really compelling, while the broadcast story remains strong.”
OMA’s MOVE (Measurement of Outdoor Visibility and Exposure) audience measurement system revealed the digital Out-of-Home (DOOH) inventory grew to represent 18.8 per cent of industry revenue in 2014. This marks a 66 per cent increase from 2013.
2014 also saw a rise of Australian Out-of-Home audiences, increasing by 3.6 per cent in total daily contacts. This result was attributed to Australians travelling further each day and spending an average of 14 hours travelling and shopping each week.
The latest MOVE update has found Australians are likely to see an average of 26 advertising faces each day, up from 25 in 2013.