The out-of-home (OOH) industry reported a fall of 2.59% in net media revenue year-on-year in the first quarter of 2020, posting $207.2 million, a dip from the $212.7* million in the same three months of 2019.
Digital revenue is sitting at 56.8% of total net media revenue year-to-date, an increase over the recorded 54.6%* for the same period last year.
“COVID-19 had a deep effect on the industry’s revenue in March 2020," says Charmaine Moldrich, CEO of the Outdoor Media Association (OMA).
"We are pleased that we weathered the storm to some extent in the first quarter. We know that in the short term we will be affected by budgets being put on hold.
"We also know that our channel is still essential for mass communication: whether it be for vital government messages, education, or the many brands that want to stay present and relevant during this time.
“While travel has changed, people are still out and about, including those people working on the frontlines to fight this pandemic, people providing services, people exercising and shopping not to mention people who should not be outdoors!
"Out of home messaging is essential to get health and wellbeing messages to people and to remind people to distance, isolate and stay at home. Our members are dedicated to finding solutions for brands in these unprecedented times."
* Previously reported revenue figures have been adjusted to reflect changes in the OMA membership.
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