The Out of Home Media Association Aotearoa (OOHMAA) has reported strong revenue quarterly growth in Q4 2020, up 49 percent on Q3, with members noting the strong momentum continuing into 2021.
Substantial growth in both digital and non-digital formats have helped to deliver the Q4 result. Digital revenue reports a 70 percent share in Q4 vs the yearly quarterly average of 65 percent of 2020, highlighting the value of its immediacy and reach capabilities in a challenging market.
Nielsen’s media ad spend for Q3 highlights the categories driving this growth with increased spending year on year; Foodstuffs, computers, government, insurance, gardening, and home improvements.
The Standard Media Index (SMI) reported Out of Home data in November; revenue for the month was flat year on year for the first time since the lockdown in March.
OOHMAA has reported net media revenue is down by -32 percent year on year, posting $ 97.1 million.
Looking forward to 2021, they’re seeing forward bookings pick up – indicating that they’re now on a positive recovery trajectory.
Natasha O’Connor, OOHMAA General Manager, says: “Out of Home was impacted especially hard by the pandemic; however, while the impact of COVID is still being felt, Q4 results, forward bookings, and data from trusted sources indicate that we are on a positive trajectory for 2021.”
The post Out of Home looks forward to 2021 appeared first on stoppress.co.nz.
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