The out-of-home (OOH) industry has reported a decrease of 24% on net media revenue for the first quarter of 2021.
The latest figures from the Outdoor Media Association (OMA) shows that the industry has reported $158.1 million in net media revenue for the period, down from $207.8 million the same time last year.
Digital OOH (DOOH) revenue accounts for 57.1% of total net media revenue year-to-date, an increase over the recorded 56.7% 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,” says 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.”
Moldrich says the results from March are “particularly heartening”, with revenue up 18% from February. The rise is coupled with the latest consumer confidence index, which is now 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,” she says.
“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.
“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.”
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