Outdoor advertising revenue for the first nine months of 2017 has reached just over $85 million – 24% ahead of the same period last year. September stood out, reaching $11.3 million – the second highest month on record.
The figures, based on OMANZ members only who account for around 87% of the total outdoor advertising revenue, also show advertising on static OOH formats account for 54% of the total year-to-date revenue, while digital OOH formats represents 46%.
This continued growth in revenue has meant that a greater number of advertising categories are investing into the medium.
An analysis of Nielsen Adquest Outdoor ratecard data indicates that the top six categories – Leisure/Entertainment, Government Departments/Services/Community, Telecommunication, Investment/Finance/Banking, Beverages, and Foodstuffs – account for just over half of total revenue.
Real Estate leads the way
OMANZ general manager Derek Lindsay said the sector is also seeing huge growth year-on-year in Real Estate (+95%), Household Electrical Products (+91%), Computers (+53%), Toiletries & Cosmetics (+49%), Clothing (+37%), Investment, Finance & Banking (+36%), Telecommunication (+34%), Automotive (+33%).
“Although advertising revenue across all media has started to slow or decline, especially through agencies, we are still seeing huge double-digit growth in outdoor.
“Its appeal has broadened across many more advertising categories, resulting in two key benefits – a gain in new advertisers, and media budgets being re-allocated from other media into the outdoor medium.
“We are pleased that the significant investment in technology by all members is starting to show a return and, certain advertisers have shown their faith in these improvements by moving significant sums into the medium.”
OMANZ media display members are Adshel, APN Outdoor, oOh! Media, Media5 and QMS.
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