Digital overtakes print revenue at oOh!media (oOh!) with the company achieving strong results across the board, with increases in profit, revenue, and EBITDA.

A tipping point has been reached, with 52 per cent of oOh!’s total revenue now coming from digital, as opposed to print. This time last year, digital accounted for 44.5 per cent of revenue. The change is due to an increase in digital revenue of 38 per cent, reaching $90m, with print accounting for the remaining $82m.

The company notes that it has 13,000 classic panels currently, much higher than its 8,000 digital screens, which include 230 large format screens.

The 2017 HY results for the outdoor media giants include a 25 per cent increase in gross profit, $75m from $60m in the prior corresponding period (pcp). Revenue across the group is up 18 per cent from 2016’s HY results, reaching $172m from $146m in the pcp.

Statutory EBITDA results are up 19 per cent, $31m from 2016’s $26m, while the underlying EBITDA increased 27 per cent, reaching $34m from $26m in the pcp.

Net profit after tax is $7.1m for HY 2017, up 18 per cent from HY 2016.

The Road and Retail segments achieved double digit-growth, as Road grew by 12 per cent, and Retail 23 per cent. The company says the two segments remain its most significant revenue contributors, respectively delivering 40 and 32 per cent of group revenue.

The company's 2016 acquisitions, Cactus Imaging and Junkee Media, comprise 4.6 per cent of revenue, with oOh! noting Cactus has provided improved production and supply chain efficiencies, and strengthened its core classic signs business. The company says Junkee Media provided oOh! video production and content creation capabilities, which will increasingly be strategically important to advertisers and property owners.

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