OOHMAA Reports Continued Growth in Q3 2024
The Out of Home Association Aotearoa (OOHMAA) is pleased to announce continued growth in the Out of Home industry for the third quarter of 2024.
Revenue for Q3 2024 reached $49 million, representing a 4.6% increase compared to the same period in 2023. This marks the strongest quarterly performance on record for the Out of Home industry in Aotearoa despite the continuing challenges of market conditions.
Key Highlights:
- Digital Out of Home (DOOH): DOOH remains the primary growth driver, accounting for 78% of total revenue, $38.9 million, an increase of 8.1% year over year.
- Programmatic DOOH (pDOOH) Surges: pDOOH continues its expansion, growing by 16% year-on-year to reach $3.6 million. This represents 9.4% of total DOOH revenue for the quarter, reflecting the increasing adoption of programmatic technology in the advertising landscape.
The strong performance of Out of Home in Q3 2024 highlights its effectiveness as an advertising medium. Advertisers appreciate Out of Home’s ability to reach large audiences quickly, create powerful impact, and deliver messages in a clutter-free environment.
“Out of Home’s ability to deliver results and captivate audiences in high-visibility environments has been a critical factor in its continued success, attracting agencies and clients to the medium,” says Natasha O’Connor, CEO of OOHMAA. “As we continue to navigate the current challenging landscape, we remain focused on demonstrating the unique power of Out of Home to our clients, ensuring we maintain and grow the momentum we’ve achieved to date.”
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.
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