Outdoor print dips in Q1 as virus bites
The share of print for the out-of-home market fell by 2.2 per cent in the first quarter, on a total outdoor spend that was itself down by 2.6 per cent to $207.2m, from $212.7m the year before.
Total spend on outdoor print for the quarter was $85.9m, which was $10m down on the same quarter last year, a fall attributed to both the growth in digital and the impact of the coronavirus.
Digital outdoor revenue continues to outpace print, as more infrastructure is converted to digital, it now stands at 56.8 per cent of total spend, up from 54.6 per cent form the same time last year.
The overall figure for the quarter was down as the Covid-19 crisis hit marketing budgets towards the end of March. The second quarter figures are expected to be seriously impacted, with outdoor spend constrained as the country waits for the coronavirus to pass.
Putting a brave face in what are likely to be disappointing second quarter figures, Charmaine Moldrich, CEO at the outdoor Media Association, said, “Covid-19 had a deep effect on the industry's revenue in March. We are pleased that we have weathered the storm to some extent in the first quarter. We know that in the short term we will be affected by budgets being put on hold.
“We also know that our channel is still essential for mass communication, whether it be for vital government messages, education, or the many brands that want to stay present and relevant during this time.”
Looking at brands looking to reduce outdoor media spend Moldrich said, “Out of home messaging is essential to get health and wellbeing messages to people and to remind people to distance, isolate and stay at home. Our members are dedicated to finding solutions for brands in these unprecedented times.”