The Outdoor Media Association sees “green shoots and improvement” for the Out of Home (OOH) industry despite a 24% fall in revenue to $158.1m for Q1 2021, compared to $207.8m 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,” said OMA CEO Charmaine Moldrich. “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.
“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.
“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,” Moldrich said.
“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.”
Digital OOH revenue now 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.
