The Outdoor Media Association of New Zealand (OMANZ) have announced today a slight 2.9 percent dip in OOH revenue for the first quarter of 2020.
Judging on a year on year basis, the OOH sector posted $29.32 million, down 2.9 percent from Q1 2019. However digital revenue grew by 1.4 percent year on year to $18.16m and now accounts for 62 percent share of total revenue, up from a 59.4 percent share same time last year.
OMANZ general manager, Natasha O’Connor, said, “as an industry, we came away from Q1 relatively unscathed however we know that due to New Zealand being at stage 4 for the next 4 weeks (minimum), and clients putting spending on hold, Q2 will prove to be incredibly challenging”.
“The Out of Home audience has changed over the lockdown period; however, people are still out of home either for their allowed daily exercise routine or essential workers travelling or partaking in their jobs. While there has been change in audience, advertisers still recognise the need for wide reaching messaging be it Governments messaging the public on Covid updates and guidelines or brands that recognise the need to stay salient over this time – therefore, placing them in a strong position once restrictions are lifted.
“Respected Ad Man, Sir Martin Sorrell predicts the advertising industry is in for a bumpy ride for at least the next six months due to Covid 19 but sees a healthy rebound in the last quarter of 2020. OMANZ members will be putting strategies in place that will ensure, should Sorrell’s prediction of a fast rebound come to fruition, they will be able to minimise the impact Covid 19 on business” concludes O’Connor.