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Justin Cochrane, CEO - Europe, Clear Channel Outdoor, began his session on
‘Use your superpower’ at the World Out of Home Organization (WOO) European Forum virtual meeting held on May 18 by listing out some clear observations during the pandemic in the context of the European OOH market.
Some of the market observations he shared included:
1. Differences in market recovery pace: Established OOH markets recovered faster post lockdown. He cited some examples -- UK, France and Switzerland. But less established OOH markets, which were strong on TV - like Spain, Poland and Italy - were slower in recovery.
2. Roadside audience presence: Even during the lockdown, the underlying roadside audience of about 45-50% was still available. But post lockdown, with the opening of schools and retail, it shot up to 80%.
3. Rent challenges: Rent reductions posed tough challenges to media owners.
4. OOH media performance: Overall, roadside media performed well, while transit and mall media were challenged.