Out Of Home Industry Shows Signs Of Revival In Q3 Results

Blank billboard for outdoor advertising at twilight time

The Out of Home (OOH) industry today announced a decrease of 56 per cent on net media revenue for the third quarter of 2020, posting $95.8 million, down from $218.2 million for the third quarter in 2019.

Digital revenue is sitting at 55.6 per cent of total net media revenue year-to-date, an increase from the recorded 55.3 per cent for the same period last year.

“Although our industry has been hit hard by the global pandemic and the additional lockdown in Victoria, we are seeing the market gradually improve,” said OMA CEO Charmaine Moldrich.

“In Q2 the OMA reported a drop in revenue of 65 per cent on the year prior, so it is heartening to see advertising spend increase from what was our lowest point. It is especially hopeful as we see lockdown measures lifted across the country in the lead up to what is the industry’s strongest quarter, with Spring, Summer and the Christmas period ahead,” continued Moldrich.

Data shows that as restrictions lift and the weather warms that audiences are returning to Outdoor spaces and places. Traffic is back 75 to 90 per cent of pre-COVID level across Australia^, and there are positive signs of audiences returning to public transport.

“These trends, in addition to lifting of restrictions in Victoria, are hopeful signs that signal the start to industry recovery,” concluded Moldrich.




Please login with linkedin to comment

OMA

Latest News

Tara Ford To Serve On Titanium Jury At Cannes Lions
  • Advertising

Tara Ford To Serve On Titanium Jury At Cannes Lions

Tara Ford, chief creative officer of The Monkeys and Accenture Song, is set to serve on the Titanium jury at this year’s Cannes Lions International Festival of Creativity. The Aussie adland legend said that she “can’t wait” to join the panel of judges and that the Award was particularly close to her heart. “Titanium is […]

“Be Like A Skunk At A Garden Party”: Author Patrick Radden Keefe On Investigating Pharma
  • Marketing

“Be Like A Skunk At A Garden Party”: Author Patrick Radden Keefe On Investigating Pharma

Patrick Radden Keefe (pictured), author of global bestseller, Empire of Pain, talked to B&T‘s Nancy Hromin at the Samsung Jaipur Literary Festival about reputation laundering, aggressive marketing strategies and the privilege of still being able to practice pure journalism and be paid for it. Keefe’s in-depth reporting in publications such as The New Yorker and […]