The Out of Home Media Association Aotearoa (OOHMAA) has reported today the figures from OOH for Q2, which largely feel during Covid Lockdown.
Revenue for Q2 is down by -76 percent on net media revenue year-on-year, posting $8.8 million and for the first half of 2020, Out of Home revenue is down -40 percent, posting a total of $38.1 million.
The market retains a strong digital skew, accounting for 62 percent of all revenue, a share that has remained steady over the last 12 months; between 60 percent – 62 percent for digital.
Natasha O’Connor, OOHMAA general manager, says that the impact of COVID-19 on the reported revenue outcomes, while disappointing, is not surprising.
“When it was announced that New Zealand was going into lockdown, we predicted that Out of Home would be impacted, so these results were anticipated. The Out of Home industry has been growing steadily for many years, and while COVID-19 has given us pause, Out of Home is an agile medium, and we can already see that we are on the road to recovery via demand from advertisers in Q3,” said O’Connor.
“Now that restrictions have been lifted, we have seen both audiences and advertisers return, with revenue increasing by over 300 percent from May to June reflecting this,” concluded O’Connor.
Data sourced from NZTA and Auckland Transport shows that the weekly travel behaviour of New Zealanders has bounced back to between 94 percent and 104 percent of pre-COVID levels across Auckland, Wellington Christchurch, Hamilton, and Dunedin.
The smaller percentage still visible across the Auckland CBD area is thought to be the result of businesses staggering the return of their workforce and now allowing for more flexibility for staff to work from home.