Out Of Home advertising boom will continue

Digitalisation and inventory expansion drive OOH revenues toward a $1.6 billion peak by calendar year 2025.

David Kennedy · Venture Insights19 July 2024Period: CY243 min read

6.7%↑

OOH industry revenue growth YoY (June Quarter 2024)

74.4%→

Digital OOH share of total net YTD revenue

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Abstract

This report analyses the sustained growth of the Australian Out Of Home (OOH) advertising sector, which saw net media revenue increase 12.2% to $1.19 billion in 2023. Driven by the digitalisation of over 74% of member inventory and aggressive expansion into retail and transport hubs, the sector is outperforming traditional media like TV and radio. Venture Insights forecasts total OOH revenues will reach $1,603m in CY25 as economic conditions improve and digital yields continue to rise.

Key Takeaways

Australian OOH advertising revenue is forecast to reach $1,603m in CY25, driven by economic recovery and inventory expansion.
Digital formats now dominate the sector, accounting for 74.4% of total net year-to-date revenue as of mid-2024.
Retail OOH has emerged as a high-growth segment, with revenues rising over 100% between CY20 and CY23.

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Frequently Asked Questions

The sector is undergoing a structural expansion, with revenues forecast to reach $1,603 million by CY25. This follows a 12.2% increase in net media revenue to $1.19 billion in CY23, significantly outperforming the broader Australian advertising market.

Digitalization is now the dominant revenue driver, accounting for 74.4% of total net year-to-date revenue as of mid-2024. Currently, 74% of all industry inventory is digitalized, allowing operators to command premium pricing through time-of-day and location-based targeting.

Retail OOH has emerged as the highest-growth segment, with revenues increasing by more than 100% between CY20 and CY23. This aggressive expansion into retail and transport hubs contributed to a 6.7% year-over-year industry revenue growth in the June 2024 quarter.

Out Of Home advertising boom will continue

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