ASX-listed oOh!media’s CEO, Cathy O’Connor, says outdoor media – billboards, buses and street signs – can take $500 million in share from TV advertising.
oOh!media claims the decline of free-to-air TV can boost the outdoor advertising by $500 million.The chief executive of Australia’s largest out-of-home media company, ASX-listed oOh!media, says the decline of free-to-air TV can boost the billboard and digital screen advertising market by $500 million.
“We are starting to see out-of-home being viewed as a safe bet in terms of mass reach audiences which aren’t being fragmented. The media agency advertising market was worth $8.9 billion in 2022, according to figures shared by Standard Media Index at the beginning of this year. Outdoor advertising hit $1.06 billion in 2019, before pandemic lockdowns sent it plummeting to $668.9 million. It recovered to $1.06 billion in 2022, and has continued to grow revenue this year., including $3.4 billion in free-to-air TV, industry group ThinkTV reported. It was $3.43 billion in 2021.
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