Third Quarter Strongest So Far in 2019
The Out-of-Home Media Association of New Zealand (OMANZ) reported today the continued growth of the out-of-home sector with net media revenue in the July-September 2019 period increasing by 22% year on year. OMANZ member revenues were reported as $36.07m in Q3 2019 up from $29.53m in the same period in 2018.
The Calendar Year to date revenue has increased 18% with members posting $100.14m 2019 versus $84.63m for the same period in 2018.
Digital out-of-home continues to be a significant contributor to overall out-of-home revenue growth, accounting for 61% ($22.12m) of all revenue in Q3 2019, the highest share to date.
OMANZ Chairman, Nick Vile said, “Digital Out of Home is continuing to be supported by advertisers who recognise its ability to captivate audiences by adapting messages to deliver dynamic and relevant campaign messaging. With an increase in demand for our medium, we are also seeing improved yield conversion; the growth in revenue isn’t matched by growth in digital out-of-home inventory which has been stable at 12% of total inventory since October 2018. We are also seeing a stabilisation of revenue from the static formats which remains a cost-effective channel for advertisers to build audience reach.”
Vile continued “when you consider the media agency channel, SMI reported negative growth for the Jan – Aug period of -.5% versus out-of-home at 12.5%. This is a very strong indicator of the value advertisers are placing on out-of-home as an important part of their media mix."