The outdoor media industry has recorded its fifth consecutive year of solid growth with net media revenue rising to $427.7 million in 2007, up 12.3% on the previous year.
An additional $8.8 million in revenue gained from OMA member acquisitions brought total earnings for the year to $436.4 million. This is an increase of 46.5% from the $297 million recorded in 2003.The double digit growth was stronger than predicted and well ahead of the 7.1% jump in 2006 over the 2005 results.
A buoyant advertising market helped deliver a strong final quarter for the industry in 2007, attracting $137.7 million – a 16.1% rise over the same period in 2006.
Ms Helen Willoughby, Chief Executive of the Outdoor Media Association, said all sectors of the industry had performed well.
“The OMA is now capturing more than 97 per cent of media revenue that is generated from outdoor advertising throughout Australia,” Ms Willoughby said.
“All sectors of the industry have recorded healthy increases in revenue, with economic analysts predicting outdoor advertising will continue to be the best performer of the traditional media in the coming years.”
The annual rises across industry formats were as follows:
• Street furniture, including bus /trams stops, retail, & phone booths up 10.6%
• Large format, including billboards, super sites & spectaculars up 12.6%
• Transit, including advertising on buses and trams, taxis & railways up 17.5%
• Posters, including six & 24 sheets up 4.6%
Ms Willoughby said the launch of the industry’s much anticipated audience measurement system, Measurement of Outdoor Visibility and Exposure (MOVE), later this year provided further evidence of an industry focused on moving forward.
The $5 million MOVE project has entered into its final stage of development, funded by outdoor media operators and with the assistance of an $830,000 Federal Government grant under the Industry Cooperative Innovation Program (ICIP).
“The introduction of MOVE will be the next major turning point for the Australian outdoor media industry,” Ms Willoughby said.
“It will be a world first in that it will cover all outdoor media audience environments, including shopping centre and airport interiors. It will set a new benchmark for measuring media audiences in Australia, with the metrics to be based on the ‘probability’ rather than ‘possibility’ of people viewing outdoor advertisements.”
Outdoor Media Association
www.oma.org.au
