The out-of-home (OOH) industry says net media revenue fell 39.4% to $566.5 million in 2020, down from $935.5 million in 2019.
The December quarter posted $181 million, down from $269.9 million for quarter four 2019.
Digital OOH (DOOH) revenue accounts for 56.1% of total net media revenue year-to-date, an increase over the recorded 55.8% for the same period last year.
“The year just ended was extremely challenging for the advertising industry, and the Outdoor industry felt the full brunt of COVID-19 lockdowns," says OMA acting CEO Kylie Green.
"Though the impact of these restrictions still lingers, our outlook is bright: net media revenue is up 6.7% from November to December, audiences are returning to outdoor spaces, and consumer confidence in December was at a ten-year high.”
The Standard Media Index (SMI) reported that in November, Australian media agency spend overall grew by 8.3% 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,” says Green.
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