Out of Home revenue continues its trajectory, with the Out of Home Media Association Aotearoa (OHMAA) today reporting that Q3 2023 achieved the highest Q3 revenue to date at $ 46.6m, an increase of 17 percent YOY.
At a glance, Q3’s performance showed:
- Digital Out of Home (DOOH) share of revenue remained stable for most of 2023; the average DOOH share is between 75-76 percent of all revenue – Q3, DOOH revenue share was 76 percent.
- Revenue earned through DOOH in Q3 was the highest for that quarter on record at $ 35.5m
- Growth of pDOOH continued in Q3, up 110 percent for the same quarter in 2022 to sit at $ 3.2m, the highest Quarterly revenue for programmatic since OOHMAA started tracking it in April 2022. pDOOH accounted for a 9 percent share of all DOOH revenue in Q3.
“In what can only be described as a challenging market, to date, 2023 has seen Out of Home achieve its best revenue results. We attribute this not only to the focus OOHMAA members and the wider Out of Home industry have on the continued growth and innovation of our channel but also the ongoing support of advertisers who recognise Out of Homes unique ability to reach a significant portion of Kiwis (80 percent*) at every and any stage of the marketing funnel, with real-time messaging,” says OOHMAA CEO Natasha O’Connor.
*Source: OOHMAA/Fiftyfive5 study 2023
The post Out of Home positioned to end 2023 on a high appeared first on stoppress.co.nz.
More Stories
City Cast, Unprofitable but Expanding, Finds Podcast Traction in a Radio Model
WM New Zealand works with The Goat Farm on rebrand
Scope Media rebrands as Scope Communications