The Outdoor Media Association (OMA) is celebrating a strong 2023, releasing its full-year results this week. Net media revenue rose 12.2 percent to $1.194 billion, and for the fourth quarter of 2023 OMA reported a 10.9 percent year-on-year rise to $366.6 million from $330.7 million in the same quarter of 2022.

As out-of-home (OOH) grew, digital OOH (DOOH) continued its conquest of traditional formats. Its revenue now accounts for 73.9 per cent of total net media revenue, an increase from 64.5 percent for the same period last year.

The news follows a major member, oOh!media, reporting a seven percent rise in revenue earlier this week.

Growth and glory for OMA 

“In 2023, we [saw] our members invest into the future of the Out of Home channel, with the launch of OASIS, the boom of Programmatic buying and the development of MOVE2,” says OMA CEO Elizabeth McIntyre.

“This is a testament to our industry’s commitment to offering transparency and accountability for every dollar spent on OOH.” 

On the imminent launch of new audience measurement software, she says that the coming MOVE2 will bring change to the industry with a “new capacity for seasonal variance, and regional and place-based audiences to be captured in the Audience Measurement System”. 

“Our industry will be able to dive into the data and provide accurate insights to OOH buyers. Our efforts are focused on establishing robust systems that ensure exceptional user experience,” McIntyre says.

Notable highlights reinforce strong position

2023 was a year of triumph for the OOH sector not just on the books – memorable developments drew wide attention across the globe.

Viral social media interest in the MSG Sphere at The Venetian made it seem like a stunt, but the futuristic arena with fundamental advertising integration indeed has the world’s largest screen. Single- day advertising costs were revealed in October 2023 to be US$450,000 for a single day, and US$650,000 for the entire week. Its massive presence in Vegas and online allows for dazzling daily impression figures, with 300,000 in person and 4.4 million across all social platforms.

More locally, Australian campaigns filled prominent laneways and appeared in new locations, but one brand introduced a multisensory element into its streetside representation: Ben & Jerry’s campaign delighted bus commuters in Sydney with the sweet smells of salted caramel as they waited for the bus.

Why is outdoor doing well?

One major player offered insights into the strengths of OOH in a November interview with Marketing Mag.

“OOH delivers advertisers exactly what they want – scalable audience reach with impact that influences behaviour,” QMS chief operating officer Sara Lappage said.

“The immediacy, flexibility and accountability of DOOH provides a level of precision targeting and creative amplification in a trustworthy and brand-safe environment that advertisers are seeking, and the industry is benefitting as a result.”

Read the full interview.

Cover image attributed to OMA.