The Out-of-Home Media Association of New Zealand (OMANZ) has reported the continued growth of the out-of-home sector with net media revenue in the July – September 2019 period increasing by 22 percent year-on-year.
OMANZ member revenues were reported as $36.07 million in Q3 2019 up from $29.53 million in the same period in 2018.
The calendar year to date revenue has increased 18 percent with members posting $100.14 million in 2019 versus $84.63 million for the same period in 2018.
Digital out-of-home continues to be a significant contributor to overall out-of-home revenue growth, accounting for 61 percent ($22.12million) of all revenue in Q3 2019, the highest share to date.
OMANZ chairman Nick Vile says digital out-of-home is continuing to be “supported by advertisers who recognise its ability to captivate audiences by adapting messages to deliver dynamic and relevant campaign messaging.
“With an increase in demand for our medium, we are also seeing improved yield conversion; the growth in revenue isn’t matched by growth in digital out-of-home inventory which has been stable at 12 percent of total inventory since October 2018. We are also seeing a stabilisation of revenue from the static formats which remains a cost-effective channel for advertisers to build audience reach,” Vile says.
“When you consider the media agency channel, SMI reported negative growth for the January – August period of -0.5 percent versus out-of-home at 12.5 percent. This is a very strong indicator of the value advertisers are placing on out-of-home as an important part of their media mix.”