The Out of Home (OOH) industry has faced a decrease of 24 per cent on net media revenue for the first quarter of 2021, with the Outdoor Media Association (OMA) reporting $158.1 million in net media revenue for the period.
This was a decline from the $207.8 million net media revenue it reported in 2020.
However, it reported that Digital OOH (DOOH) revenue accounts for 57.1 per cent of total net media revenue year-to-date, an increase over the recorded 56.7 per cent for the same period last year.
“Q1 2020 was the last quarter where the industry posted growth, prior to feeling the effects of the pandemic. Like the economy, we were worst hit in quarter two of 2020 and I am relieved both for the industry and the economy to see green shoots and improvement,” OMA CEO Charmaine Moldrich said.
“The results from March this year are particularly heartening, with revenue up 18 per cent from February. The rise is coupled with the latest consumer confidence index, that is now just 0.2 points below the December level which was a ten-year high.”
Moldrich said she believes recovery will continue into 2021 as audience numbers stabilise, with people coming back outdoors, as well as workers returning to offices and their daily commutes.
“Our industry continues to grow and strengthen, with the addition of new members AdFlow, AOSCo Think Outdoor and TOM in January and last week Shopper Media joined the association and MOVE (Measurement of Outdoor Visibility and Exposure) the industry’s audience measurement system,” she said.
“It is wonderful to have new members join our industry at a time when we are doing new things including updating our audience measurement currency.
“The new perspectives and energy these new members bring will only help revitalise and strengthen the industry in a time of recovery and growth.”
In January, Australia’s OOH industry released its full year 2020 results showing a 39.4 per cent drop in net media revenue to $566.5 million, down from $935.5 million for 2019.
DOOH revenue accounted for 56.1 per cent of total net media revenue, increasing from the 55.8 per cent in the year before, with traditional print making up the rest.
At that time, OMA acting CEO Kylie Green said 2020 was “extremely challenging” for the entire advertising industry, with outdoor feeling the full brunt of COVID-19 lockdowns.
OMA also recently revealed the winners of its Creative Collection competition for 2020.
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