Out Of Home In Recovery Following Covid-19 Restrictions
Following a tough second quarter, the Out of Home Media Association of Aotearoa (OOHMAA) is reporting its Q3 2020 revenue, posting $23.2 million, up by 163% from Q2. While still down 35.8% on the same quarter in 2019, this is a strong recovery after the obstacles placed by Covid-19.
Digital revenue continues to showcase continued growth, reporting a 64.2% share vs static in comparison to 61.4% on the same period in 2019.
Natasha O’Connor, OOHMAA General Manager, says the uplift of the Out of Home market shows advertisers continue to recognise Out of Home as an essential part of their media schedule.
“Like every business, Out of Home was impacted by the pandemic, however; it continues to prove itself as a vital medium for advertisers to reach and impact audiences. When the industry’s revenue was impacted by lockdown in Q2, we already had our eyes set on a new horizon, these results serves as a proof point to that,” says O’Connor.
Despite the latest national Covid Level restrictions, traffic data shows main cities are currently at 93% of pre-Covid levels, showing commuters are returning to business as usual.
“Traffic data is nearly back to pre-lockdown levels, as people return to their regular habits. With the country now in Level one, and the incoming Christmas period, we are anticipating a strong close to a challenging year,” concludes O’Connor.
For more information on the revenue results or the Traffic Volume reports, please visit www.oohmaa.co.nz.