The Out of Home (OOH) industry is facing declining revenues, with the Outdoor Media Association (OMA) reporting a total net media revenue of $289.1 million for the first half of 2020.
This was a decline of 35.4 per cent from the $447.3 million it recorded for the same period in 2019.
OOH faced declines in revenue for all category breakdowns for the first half of 2020. Roadside billboards (over and under 25 square metres) recorded revenues of $129.7 million, down from the $176.8 million recorded the same time last year.
Within the roadside (other – street furniture, bus/tram externals, and small format) category, it reported $78.0 million in revenue, down from the $126.1 million it reported last year.
As for the transport (including airports) category, revenues were reported at $44.1 million, a dip from the $82.6 million reported the same time last year.
Within the retail, lifestyle and other category, figures for the first half of 2020 was at $37.3 million, a sharp decline from the $61.8 million reported for the first half of 2019.
On the other hand, digital Out of Home (DOOH) revenue accounted for 55.7 per cent of total net media revenue year-to-date, an increase over the recorded 54.0 per cent for the same period last year.
OOH recently recorded a decrease of 65 per cent on net media revenue for the second quarter of 2020, bringing in $82.1 million, according to the OMA. This amount is also a decrease from the $234.6 million it posted for the second quarter in 2019.
This was a huge decline from the “slight decrease” of 2.59 per cent on net media revenue year-on-year in the first quarter of 2020. OMA posted a net media revenue of $207.2 million for this quarter, a slight decrease from the $212.7 million it recorded for the first quarter in 2019.
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