What's Behind Out of Homes' Strongest H1 Revenue Results to Date
Article by OOHMAA CEO Natasha O'Connor
As CEO of OOHMAA, one of the roles I have enjoyed most over the last four years is writing our regular revenue releases. These releases have consistently shown the Out of Home channel increasing its revenue year on year; this release is no exception.
H1's performance is as follows:
· H1 delivered revenue of $78.8m, up 5% YOY - the strongest H1 to date
· Digital Out of Home (DOOH) continues to grow and accounts for 75% of all revenue – up from 72% of revenue H1 2022, with Aotearoa having a higher percentage of revenue from DOOH than more developed markets like the USA, UK, and Australia
· pDOOH, although still in its infancy, has also been embraced faster in Aotearoa than in other markets and accounts for 9.7% of all DOOH revenue
The growth of Out of Home in Aotearoa is not something that just happened due to the changing media landscape, though I acknowledge this played a part. Its growth can largely be attributed to the continued work by OOHMAA members in uniting and building a strong industry that is focused on developing a world-class portfolio, creating a universal Audience Measurement System (AMS), developing standards, investing in education, research and the continued investment in the development of technology and innovation within the channel.
Out of Home continues to shed the perception of it as a legacy channel and is now being recognised as the last true mass marketing medium that connects with any audience, anywhere and at any time, with an impactful real-world presence. The innovative, data-driven technology being developed in Out of Home now allows for an extraordinary level of creativity and audience engagement and every year, more creative options are added to the already long list that creatives can tap into.
Out of Home is an essential channel for marketers to use when engaging their audiences, and the channel's ability to measure campaigns' effectiveness and compare them with other channels to align performance is a large component of Out of Home's steady growth.
At OOHMAA, we are so excited to see our channel being acknowledged by advertisers and agencies as one of the most exciting, dynamic, evolving and relevant channels of today, and we look forward to showcasing new innovations and technology as they evolve.