Outdoor surges back from the depths

Comments Comments

Outdoor media spend more than doubled in the second quarter of the year over the same period last year, but print didn’t rise as much as digital, which now accounts for three-fifths of all outdoor media dollars.

Surging back: Outdoor media spending
Surging back: Outdoor media spending

The Out of Home (OOH) industry saw an increase of 125 per cent on net media revenue for the second quarter of 2021, reporting $203.3m, up from $90.3m for the same period in 2020 – which was the quarter when outdoor was slammed by Covid.

In cash terms the amount spent on outdoor print has shot up from $38m for Q2 last year to $79.2m in the second quarter this year.

However, print’s share of outdoor spend slipped to 39 per cent, with Digital OOH revenue now accounting for 61 per cent of total net media revenue year-to-date, an increase over the recorded 57.9 per cent for the same period last year.

Year-to-date outdoor revenue has increased 22 per cent, and is sitting at $374.6m, an increase from $307m on 2020 revenue.

Charmaine Moldrich, OMA CEO, said: “OOH advertising felt the full brunt of the pandemic at the height of lockdowns in Q2 2020, which explains the explosive increase of 125 per cent year-on-year. A better indication of our recovery is that we are only down by 17 per cent on pre-pandemic revenue from Q2 2019. Each month this year has been better than the previous month.

“We are determined to see OOH revenue recover to pre-pandemic levels by December. We are also determined to innovate the way we sell OOH, making it easier for advertisers to measure its value. We are not only making it easier to buy by updating our audience measurement system, but we are also introducing a new value-based currency in Q3 following an extensive neuroscience research study we have conducted over past two years. These innovations have attracted 10 new members who have joined the membership in the last six months.”

Figures released by the Australian Bureau of Statistics this month showed the Australian economy grew 1.8 per cent in Q1 to pre-pandemic levels; one of only five other global economies to do so. Advertising spend is also on track to report growth this financial year according to Standard Media Index, with OOH bookings year-on-year up + 198 per cent in May.

“Leading the charge in OOH are advertisers looking to break into new markets, such as tech companies, who are buying OOH campaigns for the first time. If you want to attract new customers and be front of mind, you need to anchor your brand in the real world - outdoor achieves that,” concluded Moldrich.

comments powered by Disqus