17% Growth –Q3 Increase for OOHMAA
As the Rest of the OOH World Shows Large Double Digit Growth
Out of Home is positioned to end 2023 on a high
Out of Home revenue continues its trajectory, with the OOHMAA today reporting that Q3 2023 achieved the highest Q3 revenue to date at $46.6m, an increase of 17% YOY
At a glance, Q3’s performance showed:
- Digital Out of Home (DOOH) share of revenue remained stable for most of 2023; the average DOOH share is between 75-76% of all revenue – Q3, DOOH revenue share was 76%
- Revenue earned through DOOH in Q3 was the highest for that quarter on record at $35.5m
- Growth of pDOOH continued in Q3, up 110% for the same quarter in 2022 to sit at $3.2m, the highest Quarterly revenue for programmatic since OOHMAA started tracking it in April 2022. pDOOH accounted for a 9% share of all DOOH revenue in Q3
“In what can only be described as a challenging market, to date, 2023 has seen Out of Home achieve its best revenue results. We attribute this not only to the focus OOHMAA members and the wider Out of Home industry have on the continued growth and innovation of our channel but also the ongoing support of advertisers who recognize Out of Homes unique ability to reach a significant portion of Kiwis (80%*) at every and any stage of the marketing funnel, with real-time messaging, “says OOHMAA CEO Natasha O’Connor.
*Source: OOHMAA/Fiftyfive5 study 2023
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 Out of Home media’s role within the community, build and sustain relations with its key stakeholders, develop best practice industry standards and provide services to its members. A board of directors governs OOHMAA, who are 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, LUMO, Media5, MediaWorks, oOh! Media, and VAST.