Outdoor media specialist oOh!media says a strong revenue recovery the three months to December has continued into 2021.
Newly appointed CEO Cathay O’Connor says the 2020 advertising market was significantly challenged with the broader media market declining by 15%, according to SMI (Standard Media Index) data.
The out-of-home segment was dis-proportionately impacted by people movement restrictions, with an overall decline of 39% as measured by Outdoor Media Association data.
However, the company experienced a strong recovery in revenue across key formats in the final quarter of 2020 which has continued into 2021 as people movement restrictions have eased.
The December quarter came in at 70% of the same three months in 2019 compared to 57% in the September quarter.
This has been most pronounced in Road, Retail, Street Furniture and New Zealand.
The recovery has continued into 2021 with total revenue for January 2021 pacing at 80% of January 2019 levels.
Road, Retail, Street Furniture and NZ revenue levels for January 2021 were at close to 100% of January 2019 levels.
Airport, Rail and Office audience environments continue to be impacted from continued restrictions on travel.
"We are well placed to leverage the improvement in market conditions and audience growth with the most comprehensive network of assets across Australia/NZ and the most insightful data to help advertisers reach desired audiences," says O'Connoor in the company's annual report.
Chair Tony Faure: "Our strategy remains focused on capitalising on the positive key structural drivers of growth in Out of Home and leveraging our diverse product portfolio, backed by data, to deliver results for advertisers and to create value for our shareholders."
oOh!media has more than 37,000 digital and static assets at roadsides, retail centres, airports, train stations, bus stops, office towers, cafes, bars and universities.
Revenue fell by 34% to $426.5 million in the 12 months to December.
Have something to say on this? Share your views in the comments section below. Or if you have a news story or tip-off, drop us a line at firstname.lastname@example.org