Outdoor Media Association reports 39.4% drop in 2020 revenues
The Outdoor Media Association (OMA) has reported that the Out of Home (OOH) industry saw a decrease of 39.4 % on net media revenue for 2020, down from $935.5 million in 2019 to $566.5 million in 2020, taking into account a change in membership reporting between the two periods.
Forth quarter 2020 saw a decrease of 32.9% on net media revenue year-on-year, totalling $181 million, down from $269.9 million for the same period in 2019.
Digital OOH (DOOH) revenue accounts for 56.1% of total net media revenue year-to-date, an increase over the recorded 55.8% for the same period last year.
The OMA estimates that it represents approximately 80% of the OOH industry.
Image supplied by OMA
OMA acting CEO Kylie Green said: “The year just ended was extremely challenging for the advertising industry, and the Outdoor industry felt 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% from November to December, audiences are returning to outdoor spaces, and consumer confidence in December was at a 10-year high.”
The Standard Media Index (SMI) reported in November that Australian media agency spend overall grew by 8.3 per cent following 26 months of decline.
“These media industry trends, coupled with a positive Christmas period, signifies that we are on the right trajectory in 2021,” added Green.
Outdoor media provider Ooh Media reported that road and retail OOH audience volumes were tracking at 87% of the 2019 levels in late November, up from a low of approximately 50% in mid-April 2020 compared to the prior corresponding period. Overall, Ooh Media’s Q3 revenues were approximately 43% behind the prior corresponding period in aggregate, however November and December are continuing to demonstrate this rebound trend.
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Olivia Kruimel is the managing editor at Mumbrella. She has more than 15 years of experience in journalism, communications and marketing. Her journalism career began at Fairfax Media (now part of Nine) and includes various B2B publications such as B&T, Travel Today and ALB. As a marketer Olivia has worked for Standard Chartered and various global law firms.
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