Out-of-home adverting revenue is continuing to grow at record levels according to the Outdoor Media Association of New Zealand (OMANZ).
Its latest figures show revenue spent through OMANZ members in the first quarter of this year reached $26.37 million, a 30 percent increase on the spend in the first quarter of 2016.
According to the release, January, February and March all demonstrated significant growth this year, with March recording a 35 percent increase on the same period last year and over a 70 percent increase on March three years ago.
OMANZ general manager Derek Lindsay said the increase in total quality sites along with the growth in digital screens has driven a lot of this growth.
He said all outdoor companies have developed smarter, targeted marketing and sales thinking, resulting in better quality solutions for agencies and advertisers.
“This approach will continue to drive growth in the outdoor medium in the foreseeable future.”
Last year SMI managing director Jane Shulze, spoke to StopPress about the share of advertising spend across all platforms, and while spend on out-of-home is significantly lower than that of digital and television, she too acknowledged that digitisation of sites was contributing to spend on out-of-home spend.
But that’s only one factor she said, pointing out the recognition of its scale is another contributor to growth.
Shulze said while the likes of digital and some newspapers and magazines offer the ability to target a niche audience, outdoor offers a wider, less specific audience. That makes it a powerful platform for brands building themselves up.
“To build a brand you need big audiences and I think there’s been recognition that outdoor is great at building brands,” she said.
While SMI’s data of New Zealand’s ad spend in January – September 2015 and January – September 2016 shows out-of-home grew 19.7 percent to reach $77 million in the latter period, it remains below TV and digital, which reached $278 million and $229 million respectively.