The advertising firm, JC Decaux, posted a tally of their first-half loss on Thursday. The outdoor advertising firm in Paris has been majorly affected, like several other advertising firms worldwide, by the economic downfall because of the COVID-19 pandemic. The global advertising sector has been experiencing a halt in its operations and consequently, in revenue collection. The uncertainty in the advertising business does not pose a promising financial outlook which has been the reason for the firm’s first-half loss.
Impact of Covid on JC Decaux, Advertising Firm
The company, JC Decaux experienced a net first-half loss of 254.9 million euros due to covid. Along with this, the revenue earned by the advertising firm also dropped to 1.05 billion euros, approximately by around 40%.
The chairman and co-CEO JC Decaux stated that the uncertainty posed by COVID-19 and the local lockdowns have been detrimental to their business. He further said that the third quarter of 2020 would also bring newer challenges because of the lack of revenue generation and the implementation of lockdowns in the country and world. On further questioning, the chairman and co-CEO was unable to lay down proper guidance and business strategy for the rest of the year.
FAQ’s for Industry News (Advertising & Marketing) –
By the end of 2019, the Indian ad industry was close to INR 68K crore and was expected to grow by more than 10% to reach INR 75K crore by the end of 2020 (Figures before COVID-19 pandemic).
Main outdoor advertising formats include –
- OOH Hoardings.
- Transit media like Bus, Train, Car Ads, Auto branding etc.
Is Print media on the death bed when we compare it to growing Digital media?
Organized retail being the leader in OOH ad spends is followed by Real estate, Jewelers and Hospitals.
Below are the top 5 news portals covering ad, marketing and PR related news.
You may also refer https://www.myhoardings.com/blog/ for seasonal industry campaign details.
Most of the outdoor advertising media comes under state government and local municipal bodies invite tenders at regular intervals (1 year, 2 years or more ..) in lieu of license fee.
Top 5 OOH ad agencies include MullenLowe Lintas, HAVAS Worldwide, Publicis, Laqshya group and Bright outdoors.