oOh!media to Focus on Core Out of Home Business
Selling its Junkee Media Business
oOh!media to focus on core Out of Home business
and leverage advantage of audience scale
oOh! has announced that it will increasingly focus on and leverage the unrivalled scale of its core Out of Home media business, as part of its strategy to capitalize on future growth opportunities.
This will involve a renewed focus on making its customers’ brands unmissable and realizing the full potential of its diverse assets, which comprise the largest Out of Home network in Australia and New Zealand.
As market leader, oOh! aims to help grow Out of Home as a category by showcasing the creative power and effectiveness of the medium to deliver mass-reaching, unmissable, audience-led campaigns for advertisers.
This strategic evolution will see marketers buying Out of Home media by audience, which is proven to deliver better results. oOh!’s ‘Better Ways to Buy’ initiative unlocks the true scale of oOh!’s network and allows advertisers to reach 80% of category buyers in a single campaign.
This strategic evolution will see marketers buying Out of Home media by audience, which is proven to deliver better results.
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,” she said.
“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.”
“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.
As part of the strategic review, the company has determined that its core focus on Out of Home means that it will transition away from online digital publishing. 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.
Ms. O’Connor explained that the company’s strategy was evolving to take advantage of numerous opportunities in Out of Home, and 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.
“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.”
The move sees Neil Ackland, Junkee’s co-founder and current CEO, relinquish his Junkee position and remain at oOh! in his ongoing Chief Content, Marketing & Creative Officer role as part of the executive leadership team.
oOh!media is a leading Out of Home media company that is enhancing public spaces through the creation of engaging environments that help advertisers, landlords, leaseholders, community organizations, local councils and governments reach large and diverse public audiences. The company’s extensive network of more than 37,000 digital and static asset locations includes roadsides, retail centers, 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. It also owns digital publisher Junkee Media and printing business Cactus. Find out more at oohmedia.com.au
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