The Out of Home advertising industry says Covid-19 lockdowns caused a 39.4% decrease in net media revenue to $566.5 million in 2020, down from $935.5 million for 2019. But the OMA says the outlook is looking bright.
"Our outlook is bright":
“The year just ended was extremely challenging for the advertising industry, and the Outdoor industry felt the full brunt of COVID-19 lockdowns,” said Kylie Green, the acting CEO of the Outdoor Media Association (OMA).
“Though the impact of these restrictions still lingers, our outlook is bright: net media revenue is up 6.7 per cent from November to December, audiences are returning to outdoor spaces, and consumer confidence in December was at a ten-year high.”
Quarter four 2020 saw a decrease of 32.9 per cent on net media revenue year-on-year, posting $181 million, down from $269.9 million for quarter four 2019.
Digital OOH (DOOH) revenue now accounts for 56.1 per cent of total net media revenue year-to-date, an increase over the recorded 55.8 per cent for the same period last year.
The Standard Media Index (SMI) reported that in November, 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,” Green said.