The Out of Home Media Association Aotearoa (OOHMAA) has reported a solid start to 2022, with quarterly revenue performance up four percent year on year despite the country remaining in traffic light red, delivering media revenue of $27.9 million for Q1 2022.
Digital revenue continues to grow year on year, seeing a 3.8 percent increase and generating $18.6 million this quarter. Digital share of total revenue for Q1 2022 has held at 67 percent, the same share percentage as all quarters in 2021 indicating advertisers are seeing the benefit of blended campaigns using classic and digital formats to achieve their desired Out of Home media results.
OOHMAA General Manager, Natasha O’Connor, says: “We anticipate that the world will be back to normal this year as COVID restrictions and mandates lift, borders re-open, and workers head back to the office. This return to normality has been reflected in Out of Home’s performance in Q1.
“2022 is looking bright, and with an assertive growth forecast of +14 percent for the sector, we anticipate a range of tailwinds to assist delivery of our growth prediction; the growth and development of pDOOH, ongoing advancement and adoption of a unified audience measurement system, advertisers re-investing in brand, and the ongoing demise of the cookie could result in brands focusing more on contextual forms of advertising to engage with their audience, this is where Out of Home will play an important role.”
Having a more united and engaged industry is an ongoing goal of OOHMAA, which recently welcomed one new member in VAST Billboards and two new affiliate members in Vistar Media and Hivestack.
