An Economy On The Mend Promises Future Growth For The Out Of Home Industry
The Out of Home Media Association Aotearoa (OOHMAA) reports its strongest quarterly revenue performance since Q1 2020, signalling the sectors continued recovery post-Covid-19. The association was pleased to report net media revenue of $26.9 million for Q1 2021, a decline of -8.3% year-on-year and an improvement from a -12.5% decline in Q4.
Digital revenue continues to soar, pulling in $17.9 million this quarter, accounting for 67% of total revenue share for Q1, with March accounting for 70% share of all out of home revenue. This dynamic is a reflection of shortened planning cycles.
The out of home industry is benefiting from an economy in recovery mode following the impacts of Covid 19 felt across the media sector in 2020. The population has adapted to new ways of working, resulting in minimal impact on overall traffic volume as we go in and out of lockdowns. The latest traffic data released by Auckland Transport for 22-28 March showed Auckland traffic volume levels at 102% compared with the same time 2019. All other main Mets have been stable at around 100% since the end of the initial lockdown.
Natasha O'Connor, OOHMAA General Manager, says, "Our audience is back, with slightly different travel patterns as businesses allow greater flexibility working from home, and in hours needed in the office. Kiwis are now comfortable moving in and out of levels, and the impact on traffic volume is minimised each time we yo-yo through the levels. We are seeing good signs that the economy is continuing to recover with all operators reporting strong demand through Q2 and having the Australian bubble open is just another good news story to add to the building business confidence,” said O'Connor.
2021 will see the out of home industry stronger and more united, starting with two new associate members of OOHMAA, Candelic and Reach Media. The two join Omnigraphics, BerrySimons and ICG who are valuable partners to OOHMAA.
Furthering the out of home industry's unification, JCDecaux has recently sold 40% of Calibre to oOh!Media.
About OOHMAA (Out of Home Media Association Aotearoa)
OOHMAA (previously OMANZ) is a not-for-profit, professional, cohesive industry body representing key Outdoor Media display companies who collectively contribute approx. 85% of total out of home advertising industry revenue.
OOHMAA's key focus is to educate and raise awareness of the role of Out of Home media within the community, to build and sustain relations with its key stakeholders, to develop best practice industry standards and to provide services to its members.
OOHMAA is governed by a board of directors who are all committed and passionate about raising the profile of out of home advertising in the New Zealand market.
Members of OOHMAA adhere to a Code of Practice and abide by the regulatory frameworks in which they operate. OOHMAA media display members: JCDecaux, oOh! Media, Media5, QMS, Ad-Vantage Media and Bekon Media.