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 commentOMA
The majority of adverts uploaded to Facebook aren’t created for Facebook as its priority. This is causing huge inefficiencies and poor performance for brands, many of whom are facing up to shrinking budgets. Tom Phillips (main photo) managing director at Connecting Plots shares lessons from 12 campaigns they optimised for auto brands… It’s no secret […]
On Wednesday, 21 October 2020, the PR industry was bolstered by the launch of the Public Relations Institute of Australia’s (PRIA) first University Mentoring Program in New South Wales, adapting the traditional face-to-face program to a virtual format for the first time. In collaboration with the University of Technology Sydney (UTS), the PRIA NSW Young […]
JCDecaux has developed a dynamic digital campaign with live timetable data where commuters can access their money from MyPayNow while waiting for the bus. In an exclusive nationwide Out-Of-Home campaign, JCDecaux’s SMARTFRAME digital assets are broadcasting bus arrival times, letting commuters know how far away their next bus is – and just how easy it […]
Rokt has today announced an investment of US$80M. The capital will help accelerate research & development and support the expansion of its client base into new verticals and geographies as Rokt continues to make e-commerce smarter, faster, and better. The funding round was led by Rokt’s largest institutional shareholder TDM Growth Partners , and supported […]
PayPal Australia and Buy From The Bush have joined forces to launch a new online marketplace to showcase rural Australian small businesses in time for Christmas. The expanded partnership aims to build stronger connections between bush businesses and Australians in cities and suburbs across the country. The new Buy From The Bush Marketplace is an […]