Strong Q1 result for out-of-home sector

AUCKLAND, Wednesday: The Out of Home Media Association Aotearoa (OOHMAA) has reported a solid start to 2022, with quarterly revenue performance up 4% year on year, delivering media revenue of $ 27.9 million for Q1 2022.

OOHMAA GM Natasha O’Connor said: “Digital revenue continues to grow, seeing a 3.8% increase and generating $ 18.6 million this quarter.

“Digital share of total revenue for Q1 2022 has held at 67%, the same share 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.

“2022 is looking bright, and with an assertive growth forecast of +14% for the sector.”

“We anticipate that the world will be back to normal this year as Covid restrictions and lift, borders re-open, and workers head back to the office. This return to normality has been reflected in Q1.

“2022 is looking bright, and with an assertive growth forecast of +14% for the sector, we anticipate a range of tailwinds to assist delivery of our growth prediction.”

“Having a more united and engaged industry is an ongoing goal of OOHMAA, which recently welcomed new member Vast Billboards and two new affiliate members in Vistar Media and Hivestack.”

• oohmaa.co.nz