Out of Home: Building back its momentum in 2021
The Out of Home Media Association Aotearoa (OOHMAA) today announced 2021's revenue is up 24 percent year-on-year (YOY), with the total revenue rising to $119.3m, despite a tough year of extended lockdowns throughout the country.
Digital revenue continued to climb and experienced a three percent increase YOY, accounting for 67 percent of 2021's revenue.
Natasha O'Connor, OOHMAA General Manager, says, "after two years of learning to live with COVID, Aotearoa has proved it can work within COVID restrictions. Auckland experienced a long and tough lockdown; however, revenue still increased every quarter YOY bar Q1."
2021 will be known as the year of recovery for Out of Home media. As the country moved between the alert levels over the past two years, communities adjusted to the restrictions and returned faster each time restrictions were lifted. Since the country entered the new Traffic Light Framework, it has been observed that audiences returned to pre-covid numbers in all cities by the end of 2021 except Auckland, which was approx. 10% down on pre covid levels
"There are a number of driving forces at play that we believe will result in a strong Out of Home market in 2022 and beyond. Although in its infancy, pDOOH is predicted to be a significant source to Out of Home's growth over the next few years along with the launch and refinement of Out of Home's Audience Measurement System, the ongoing increase of Urbanisation, the continuation of media fragmentation and advancing technology", states O'Connor.
Also contributing to the growth of Out of Home is the phasing out of third-party cookies. A late 2021 survey carried out by the established AI advertising enterprise Alfi revealed that since the phasing out of third-party cookies from the global browser market, marketers have been repositioning their spending to the Digital Out of Home sector.
"As an industry, we are optimistic that with so many positive forces in play, 2022 will see Out of Home continue to reaffirm its place as an essential channel for advertisers", concluded O'Connor.