Analysts at Jefferies and Morningstar have slashed revenue forecasts for Australia’s largest outdoor advertising company, oOh!media, concluding it is losing market share despite being in the fastest-growing media category.

While television, audio and news media dragged the ad market down in March to a 1.5 per cent decline year-on-year, out-of-home advertising – the catch-all term for billboards, digital screens and panels – surged more than 30 per cent, per Standard Media Index figures.