Out of Home industry shows signs of recovery after Covid-19

out of home

• Revenue is up 18 per cent from February

The Out of Home (OOH) industry today announced a decrease of 24 per cent on net media revenue for the first quarter of 2021, reporting $158.1 million, down from $207.8 million in 2020.

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,” said Charmaine Moldrich, OMA CEO.

“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. I believe our 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,” she said.

“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. 

“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,” concluded Moldrich.

Full year results for last year showed that the industry saw a total decrease of 39.4 per cent on net media revenue in 2020.

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