Ooh Media reports $636M revenue as digital expansion drives growth

Outdoor media company Ooh Media has reported $635.6 million in revenue for the year to December 2024, pulling in a net profit after tax of $37 million.

The results reflect improved performance in the second half of the year, driven by revenue growth initiatives and cost efficiencies, setting the foundation for what it hopes will be a stronger 2025.

Early signs are positive. The company’s results show momentum has carried into the new year, with the out-of-home group reporting double-digit revenue growth in the year to February 2025.

Ooh Media CEO Cathy O’Connor said strategic initiatives, including market expansion and retail media innovation, are both driving sustainable growth.

“By making it easier for our customers to work with us, providing them with access to the best assets and audiences and partnering with retailers to explore new revenue adjacencies, we will continue to grow our market share in an improving OOH market,” she said.

“The long-term outlook for out-of-home remains positive, with the category now exceeding 15% of total advertising spend. We are well positioned for profitable growth and enhanced shareholder value.”

Retail media has been a focus for Ooh Media, with its reo network securing new customers, including Petbarn, Officeworks and a pilot partnership with Australia Post.

O’Connor said adding new customers to its retail media offering was validation that the business is strong.

Ooh Media made significant investments in digital expansion in 2024, adding over 50 new digital road assets, 224 digital panels in street furniture and rail and 439 new digital screens across 113 retail centres.

Despite a 9% revenue decline in the retail segment due to the non-renewal of the Vicinity contract and its 60 supermarkets, its fly segment posted a 14% revenue increase, while city & youth revenue climbed 18% as CBD audiences returned.