Out-of-home revenue climbs in soft advertising market
The out-of-home industry saw an 8% net revenue jump in 2024, managing growth during a soft period for the advertising industry.
This is according to new figures from the Outdoor Media Association, who announced that media revenue for 2024 increased to $1.3 billion, up from $1.19 billion for 2023.
This growth is in contrast to the overall advertising market in Australia, which slipped by 0.9%, according to Guideline SMI figures released earlier this month.
Broken down into categories, roadside billboards accounted for $540.7 million in revenue, with street furniture, bus and tram stops and various other small-format billboards bringing in $291.8 million.
Transport, including airports, brought in $172.9 million, while retail and lifestyle brought $296.4 million.
All categories saw a revenue lift, with digital out of home (DOOH) revenue, now accounting for 75.2% of the sector’s total net media revenue.
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