Australia’s out of home industry has 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.
Digital out of home 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.
Outdoor Media Association (OMA) acting chief executive officer Kylie Green said 2020 was extremely challenging for the entire advertising industry, with Outdoor feeling the full brunt of COVID-19 lockdowns.
“Though the impact of these restrictions still lingers, our outlook is bright: net media revenue is up 6.7 per cent from November to December, audiences are returning to outdoor spaces, and consumer confidence in December was a ten-year high,” Green said.
Green says the Standard Media Index (SMI) reported that in November, Australian media agency spend overall grew by 8.3 per cent following 26 months of decline.
“These media industry trends, couple with a positive Christmas period, signifies that we are on the right trajectory in 2021,” she said.
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