COVID-19 Gives Pause To Out Of Home Q2 Results

Today, the recently rebranded Out of Home Media Association Aotearoa (OOHMAA) has reported revenue for Q2 is down by -76% on net media revenue year-on-year, posting $8.8 million and for the first half of 2020, Out of Home revenue is down -40%, posting a total of $38.1 million.

The market retains a strong digital skew, accounting for 62% of all revenue, a share that has remained steady over the last 12 months; between 60%-62% for digital.

Natasha O’Connor, OOHMAA General Manager, says that the impact of COVID-19 on the reported revenue outcomes, while disappointing, is not surprising.

“When it was announced that New Zealand was going into lockdown, we predicted that Out of Home would be impacted, so these results were anticipated. The Out of Home industry has been growing steadily for many years, and while COVID-19 has given us pause, Out of Home is an agile medium, and we can already see that we are on the road to recovery via demand from advertisers in Q3,” said O’Connor.

“Now that restrictions have been lifted, we have seen both audiences and advertisers return, with revenue increasing by over 300% from May to June reflecting this," concluded O’Connor.

Data sourced from NZTA and Auckland Transport shows that the weekly travel behaviour of New Zealanders has bounced back to between 94% and 104% of pre-COVID levels across Auckland, Wellington Christchurch, Hamilton, and Dunedin.

The smaller percentage still visible across the Auckland CBD area is thought to be the result of businesses staggering the return of their workforce and now allowing for more flexibility for staff to work from home.

For more information on the revenue results or the Traffic Volume reports, please visit www.oohmaa.co.nz.

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