Fast rebound?

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AUCKLAND, Today: The Outdoor Media Association of NZ has reported revenue for Q1 marginally down by 2.9% on net media revenue year-on-year, posting $29.32 million.

Digital revenue grew by 1.4% to $18.16m and now accounts for 62% share of total revenue, up from a 59.4% share same time last year.

OMANZ GM 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 four 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 – but while there has been change in audience, advertisers still recognise the need for wide reaching messaging be it Government 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.”

“Q2 will prove to be incredibly challenging.”

O’Connor referred to news (scroll down for the M+AD link) that Martin Sorrell predicts the advertising industry will see 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,” O’Connor said.

The Outdoor Media Association of NZ is a not-for-profit, professional, cohesive industry body, representing key Outdoor Media display companies who collectively contribute around 87% of total out of home advertising industry revenue. Members of OMANZ are JCDecaux, oOh! Media, Media5, QMS, Ad-Vantage Media and Bekon Media.

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