Out of home on the road to recovery

The Out of Home (OOH) industry announced a decrease of 24 percent on net media revenue for the first quarter of 2021, reporting $158.1 million, down from $207.8 million in 2020. 
Digital OOH (DOOH) revenue accounts for 57.1 percent of total net media revenue year-to-date, an increase over the recorded 56.7 percent 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. 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,” said Charmaine Moldrich, OMA CEO.

“The results from March this year are particularly heartening, with revenue up 18 percent from February. The rise is coupled with the latest consumer confidence index, that is now just 0.2 points below the December level which was a 10-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 added.

“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. The new perspectives and energy these new members bring will only help revitalise and strengthen the industry in a time of recovery and growth,” Charmaine concluded.