Off to a HOT Start —OOH Strongest Q1 to Date
revenue was up 10% year-on-year
” Having a united industry focused on driving growth and innovation in our industry will put us in a strong position to achieve our goal of realizing Out of Home’s full potential,’
The Out of Home Industry Reports its Strongest Q1 to Date
The Out of Home Media Association Aotearoa (OOHMAA) today announced that its Q1 2023 revenue was up 10% year-on-year (YOY) at $37.5m, delivering the best Q1 results to date.
Digital Out of Home’s (DOOH) contribution accounts for nearly 75% of Q1 total revenue ($27.7m), up 2% points YOY. Programmatic Digital Out of Home (pDOOH) has experienced a significant increase in its share in Q1, up 10% YOY delivering $2.66m in revenue and demonstrating the rapid adoption of pDOOH by Aotearoa’s advertisers.
Natasha O’Connor, OOHMAA CEO, says, ” OOHMAA has experienced a successful start to 2023 with both substantial growth in revenue and its membership. This quarter we welcomed LUMO, GO Media and HYPER to our team of experienced and passionate members, and now represent 90% of the Out of Home Industry”.
OOHMAA and its members continue to work on delivering initiatives that will build on the momentum the Out of Home sector has been experiencing, such as the delivery of enhanced Out of Home measurement knowledge with a user education program rolling out in H1, the release in Q2 of OOHMAA’s Standard (in consultation with key advertising agencies) which is a common set of business processes, metrics and practices that will provide greater transparency and ease of transacting Out of Home as well as OOHMAA releasing its latest research in Q3 2023 – further activity still to be confirmed.
” Having a united industry focused on driving growth and innovation in our industry will put us in a strong position to achieve our goal of realizing Out of Home’s full potential,’ concludes O’Connor.
About OOHMAA (Out of Home Media Association Aotearoa)
OOHMAA (previously OMANZ) is a not-for-profit, professional, cohesive industry body representing key Outdoor Media display companies who collectively contribute approx. 90% of total out of home advertising industry revenue. OOHMAA’s key focus is to educate and raise awareness of the role of Out of Home media within the community, to build and sustain relations with its key stakeholders, to develop best practice industry standards and to provide services to its members. OOHMAA is governed by a board of directors who are all committed and passionate about raising the profile of out of home advertising in the New Zealand market. Members of OOHMAA adhere to a Code of Practice and abide by the regulatory frameworks in which they operate. OOHMAA media display members: Ad-Vantage Media, Bekon Media, GO Media, HYPER, JCDecaux, JOLT, Media5, MediaWorks, oOh! Media, and VAST.