The Outdoor Media Association (OMANZ) is reporting revenue growth of 14.2 percent in 2019, taking the sector’s annual revenues to $141.25 million.
Every quarter in the year contributed to annual growth.
Looking back to 2016, the sector has seen a consolidated annual growth rate of 37 percent.
About the result, OMANZ general manager Natasha O’Connor said its members have continued with their commitment to developing portfolios in digital sites with creative campaigns showing the platform’s potential.
She gives the examples of Air New Zealand’s ‘RWC Sports Desk’, ASB’s ‘Clever Kash’ and MediaWorks ‘Three at the Vodafone Awards’.
“In a market that will continue to be challenging, 2020 will see OMANZ members unified in their focus on the key strategic pillars of accountability, innovation and relevance to ensure the momentum that has been achieved over the last few years continues.”
According to the announcement from OMANZ, further digitisation across the sector and improving yield profiles have been identified as the underlying factors for the continued growth experienced in 2019.
“Digital out-of-home continues to be the significant contributor to overall out-of-home revenue growth and increased by 31 percent year on year, accounting for 61 percent ($87 million) of all revenue in 2019. Digital’s share of out-of-home revenue has been consistent throughout the year at approx. 60 percent for each month across 2019,” reads the release.
While digital is being championed, static revenue’s decline has stabilised, with OMANZ reporting a decrease year on year on of -5.5 percent (total revenue of $54 million in 2019). This is up from the -12.7 percent decrease in 2018.