The Out of Home Association Aotearoa (OOHMAA) is pleased to announce continued growth in the out-of-home industry for the third quarter of 2024.
Revenue for Q3 reached $ 49 million, representing a 4.6% increase compared to the same period in 2023.
OOHMAA says this marks the strongest quarterly performance on record for OOH in Aotearoa despite the continuing challenges of market conditions.
Key highlights:
- Digital Out of Home (DOOH): DOOH remains the primary growth driver, accounting for 78% of total revenue, $ 38.9 million, an increase of 8.1% year over year.
- Programmatic DOOH (pDOOH) Surges: pDOOH continues its expansion, growing by 16% year-on-year to reach $ 3.6 million. This represents 9.4% of total DOOH revenue for the quarter, reflecting the increasing adoption of programmatic technology in the advertising landscape.
The strong performance of OOH highlights its effectiveness as an advertising medium. Advertisers appreciate the ability to reach large audiences quickly, create powerful impact, and deliver messages in a clutter-free environment.
“Out of home’s ability to deliver results and captivate audiences in high-visibility environments has been a critical factor in its continued success, attracting agencies and clients to the medium,” says Natasha O’Connor, CEO of OOHMAA.
“As we continue to navigate the current challenging landscape, we remain focused on demonstrating the unique power of out of home to our clients, ensuring we maintain and grow the momentum we’ve achieved to date.”
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