2020 outdoor media spend down by 39.4% - Image Magazine

 

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2020 outdoor media spend down by 39.4%

2020 outdoor media spend down by 39.4%

The Out of Home (OOH) industry confirmed a decrease of 39.4% on net media revenue for 2020, reporting $566.5 million, down from $935.5 million for 2019.

Although the figures for quarter four improved slightly, the decrease of 32.9% on net media revenue year-on­ year was still significant, posting $181 million, down from $269.9 million for quarter four 2019.

"The year just ended was extremely challenging for the advertising industry, and the Outdoor industry felt the full brunt of COVID- 19 lockdowns," said Kylie Green, acting CEO at OMA, but added optimistically, that although the impact of these restrictions still lingers, the 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," she added.

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," concluded Kylie.

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