Last week Prime Minister Scott Morrison called the Australian federal election for the 18th May 2019, only a few weeks away. It has felt as if the campaign has been in full swing for a lot longer than this given the amount of conjecture in financial markets over the impact this election will have on equity prices.
We are not going to speculate here on the outcome from a party nor from a policy perspective. There is a lot of water yet to flow under that bridge. However, irrespective of the outcome, we suspect that the folk at oOH!media (one of our portfolio holdings) will be cheering the end of the election campaign come the 18th May.
oOH!media provides out of home advertising on more than 30,000 high profile sites across Australia, including in airports, on billboards alongside major arterial motorways in cities, retail precincts, office and university locations. Originally all static billboards (think posters physically stuck onto the billboard), these have progressively been replaced with digital billboards, providing an additional advertising revenue opportunity as adverts can be rotated more frequently through digital sites.