Global revenue for outdoor advertising group JCDecaux fell 63.4% to EUR 351.9 in the second quarter as the pandemic lockdown kept consumers inside.
Over the six months to June, revenue fell 41.6%, or EUR766.9 million, to EUR1,075.4 million.
And advertising revenue has been slow to return as restrictions due to the coronvirus crisis ease.
“During the COVID-19 lockdown period, the temporary historic drop in urban and transport audiences as well as severe economic uncertainties led companies to react immediately and to reduce their advertising spend in an unprecedented scale," says CEO Jean-Charles Decaux.
"Once lockdown measures were lifted, urban audiences started to recover progressively in Street Furniture and in Billboard while Transport audiences are still lagging significantly, mainly in airports.
"Advertising revenue has, for the time being, not followed the same pace of recovery and we see an important difference between audiences’ levels, which are in some geographies close to pre-Covid-19, and revenue levels which do not yet reflect the positive momentum in urban audiences."
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