OOH Media Slash Rates as Outdoor Advertisers Dry Up

oOh!media is the worst performer in terms of percentage on the ASX 200 index today, contracting by 4.9%, as advertisers move their spending online during the COVID-19 crisis.

According to a report from the Australian Financial Review, oOh!media has slashed the advertising rates for its billboards by 10-95%.

“Buyers working at media agencies said oOh!mediahad dropped rates by around 30% overall and it had offered two-for-one billboard and panel deals during a period of considerable change and uncertainty in consumer behaviour,” the AFR wrote.