Why it matters: outdoor advertising was worth $1.06 billion in 2022; TV is still bigger at $4.2 billion.
oOh!media claims the decline of free-to-air TV can boost the outdoor advertising by $500 million.
The company declared a 1.75¢ interim dividend.
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.
Cathy O’Connor said a market-wide downturn in the ad market had grown outdoor media’s share of the almost $9 billion media agency ad sector from 11.7 per cent in 2022 to 14 per cent so far this year.
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Sam Buckingham-Jones is the media and marketing reporter at The Australian Financial Review. Connect with Sam on Twitter.
