Advertisers continue to see value in Out Of Home, resulting in H1 Growth
The Out of Home Media Association Aotearoa (OOHMAA) announced today its fifth consecutive quarter of growth, with the second quarter of 2022 growing by 4% and contributing to H1 delivering an increase of 3% in revenue for the same period in 2021; $60.6 million, up from $58.7 million.
Digital revenue also grew by 3% for the same period in 2021, accounting for $40.4 million, with its share of total revenue for H1 2022 holding at 67 per cent, the same share percentage as H1 2021.
Classic’s revenue in H1 grew 3.4% year on year, accounting for $20.1 million in revenue, indicating advertisers are seeing the benefit of blended campaigns using Classic and Digital formats to achieve their desired Out of Home media results.
In H1, there has been a slew of activity that has amplified our presence in and supported the market growth. It started with OOHMAA establishing the effectiveness of Out of Home with 'An examination of New Zealand's Media Performance and Out of Home's role.' Then MediaWorks positioned as a shareholder for Calibre, cementing it as the true industry Out of Home measurement platform. It's a powerful advancement to offer to agencies and clients with a single AMS, which will count for 85% of all Out of Home inventory in NZ.
To fast-track Out of Home knowledge for those starting in the industry, Out of Home 101 training for new graduates was launched and continues to be rolled out to agencies.
Then finally, OOHMAA has set a focus on building a more united and engaged industry and is making progress by welcoming five new members this half - VAST Billboards, JOLT, Digital Signs, Vistar and Hivestack.
In the second half of 2022, OOHMAA and its members will continue to drive and deliver initiatives to assist in the industry's continued stability and growth. From providing 'Creative Best Practice Guidelines' to market to inspire creativity in the medium for Aotearoa, alongside Calibre growth; capturing more formats, members and user education to the platform and a focus on delivering a Verification Standard – Out of Home is well and truly back.
Natasha O'Connor, OOHMAA General Manager, says, "Out of Home in Aotearoa continues to go from strength to strength; while our revenue results reflect the continued faith agencies and advertisers have in our channel, we also see the capacity for the continued growth of our industry. Our audience numbers have recovered to pre-covid levels across most formats; there's the ongoing development and implementation of pDOOH, the ongoing focus and dedication of OOHMAA members JCDecaux, oOh!media, and MediaWorks for delivering a universal audience measurement system to enhance further the value our industry offers advertisers, and all these tailwinds look set to ensure Out of Home builds on its H1 success in H2.