Outdoor advertiser oOh!media – owner of wide format business Cactus Imaging - will offload its youth-orientated digital publishing business Junkee Media to focus on “the unrivalled scale” of its core Out of Home business.
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| "Part of a series of new initiatives": oOh! CEO Cathy O’Connor |
oOh! CEO Cathy O’Connor said a strategic review of the business had defined “a renewed focus around oOh!’s objectives. Our strategy is to concentrate on Out of Home and do what we do best – making brands unmissable through our unique advantages in delivering audiences at scale, leveraging our exclusive data sets and showcasing Out of Home’s creative power.
“Our corporate purpose is to make public spaces better, which means we will use our digital media assets to go beyond just advertising, providing contextually relevant information and content that enhances public spaces. We believe this gives us clear differentiation and increases the value of our assets and our advertising.”
As part of the strategic review, the company determined that its core focus on Out of Home means it will transition away from online digital publishing, it said in a press release. “oOh! is therefore appointing advisors to divest Junkee Media, its youth-orientated digital publishing business, which it expects to sell in the second half of this calendar year.”
O’Connor said the Junkee divestment was part of a series of new initiatives to be announced over the coming months.
“When I talk to advertisers and agencies, they tell me they want to reach the right audience at the right price, format and location to deliver the best ROI, but they also say it is equally important to have a strong creative message that cuts through,” she said. “As the market leader, we will show brands how best to use Out of Home smartly and creatively to deliver better results.
“The Junkee team have done a great job building a powerful media brand, and the recent long-term partnerships with Google and Facebook are testament to the value inherent in the business and its promising future. We believe this decision gives Junkee the best opportunity to build on its legacy and become even more successful for many years to come.”
Neil Ackland, Junkee’s co-founder and current CEO, will relinquish his Junkee position and remain at oOh! in his ongoing role as chief content, marketing & creative officer, and part of the executive leadership team.
oOh!media’s network of more than 37,000 digital and static asset locations includes roadsides, retail centres, airports, train stations, bus stops, office towers, cafes, bars and universities. Listed on the ASX, oOh! employs around 800 people across Australia and New Zealand, and had revenues of $649 million in 2019.
