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'Ongoing growth trajectory for Out of Home suggests positive rebound'

Contributor:
Fuseworks Media
Fuseworks Media

Following the release of ASA’s 2019 revenue report for the NZ advertising industry, OMANZ is pleased to report that Out of Home has experienced a significant increase in revenue year on year - up 22% in 2019. This represented the highest increase of any media channel and reflects the New Zealand advertisers growing demand for world class Out of Home assets.

This outcome is the continuation of a growth trend for the sector which has seen a 4-year compound annual growth rate of over 16% and resulted in Out of Home’s share of the New Zealand advertising spend grow from 5.34% to 6.29%.

OMANZ General Manager, Natasha O’Connor said, "2019 saw our members, and the wider Out of Home community, continue with their commitment to developing portfolios of world class digital sites, which in turn was embraced by the advertising industry and led to outstanding creative campaigns using the attributes of digital technology to its full potential."

2019 also saw our static platform stabilise, an indication that advertisers appreciate that the classic format remains a cost-effective channel to build audience reach.

O’Connor continues, "while we are all seeing, and feeling, the disruption of COVID 19, the combination of Out of Home’s ongoing growth trajectory and the long term fragmentation in traditional media, will support a positive rebound in the medium- to long-term for Out of Home.

OMANZ members are unified in their focus on the key strategic pillars of standards, leadership, and innovation. In addition to this, with further development towards a unified approach to audience measurement we will be more accountable for audience delivery than ever before."

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