Advertising revenue for out-of-home (OOH) specialist JCDecaux has contracted by 13.9% year-on-year because of the novel coronavirus (COVID-19) outbreak, according to company reports. This is the largest decline ever recorded. Total revenue fell €116m in Q1 2020 to a total of €724m, the lowest figure in five years.
The company reported growth outside of China in January and February but the introduction of lockdowns in March significantly damaged revenue. However, digital out-of-home, which accounts for a quarter (27.6%, €200m) of revenue, did manage to grow in Q1 2020. Revenue rose 0.8% compared to the previous year.
Transport revenue suffered worst,...