These are not the best of times for advertisers and advertising practitioners, especially those in the airline business, as the advent of Coronavirus disease continues to take its toll on businesses, globally. Perhaps, nothing best typifies the dire strait the air industry seems to have found itself of late than the nosedives in returns, the sector has continued to witness since February, this year, when the pandemic began to bare its fangs on brands and businesses.
While no sector of the economy seems to be immune to the ravaging pandemic, as evident in the recent decision of one of the big players in Nigeria’s financial sector, Access Bank, to do away with 75 % of its workforce, with the remaining staff being given the option of living with a pay cut, or seek employment elsewhere, the airline business across the globe seems to be facing a bigger storm.
Unfortunately, nothing, perhaps, makes the change in fortune of the airline industry, more evident than a data released by Learnbonds.com, a financial publication recently, which indicates a whopping 99 % drop, of paid ad impressions for the airline industry, in the 15th week of this year, as compared to a similar period in 2019.
For instance, the 2,661 paid ad impressions, recorded in the 15th week of 2020, was a far cry from the figure of 411,812, recorded, exactly the same period, last year.
By the 15th week of 2019, advertisers, according to the report, also had about 4.5 million ad impressions, a figure that dropped to 1.4million, a 67% drop, during a similar period this year. At the end of the 14th week this year, 3,312 ad impressions were bought compared to 452,907 last year, an indication of the hard times ad practitioners in the sector seem to be going through.
Interestingly, practitioners had begun to have an idea of what to expect in the year, as from the first week of the year, when 127,815 ad impressions were bought, as against 166,747, purchased around the same period last year. The second week of 2019, had 331,583 impressions and later dropped to 166,480 this year. The highest ad impression paid for in 2020 was during the third week when the figure was 183,668 a drop of 35.4% from a similar period last year.
Attributing the drop in paid ad impressions to COVID-19, which made countries shut their borders, including air transport to curb the spread, the Report however predicts that the figure might remain at an all-time low, at the second quarter of the year, if the pandemic persists.
“If the virus spreads at the current rate, the borders will remain closed until further notice. This means that paid for ad impressions will remain low come in the second quarter of this year,” the Report says.
But the television medium seems to be immune to the storm, caused by the pandemic, for now. Report indicates a rise in the ad impressions bought in the television industry, over the period, a development it attributed to the work –from- home and stay- safe health advisories of relevant health authorities and governments, meant to curb the spread of the disease.
“From the data, during the 15th week of this year, TV’s paid ad impressions stood at 105,351 an increase of 30% from 80,940 in 2019. In the 14th week of 2020, the paid TV ad impression was 98,519, a rise of 24% from 78,956 in 2019.
“During the first 15 weeks of both 2019 and 2020, the highest-paid ad impression for the television industry was during the 13th week of this year when the figure stood at 259,470. During a similar period last year, the impressions were 157,869.
“By the first week of this year, the ad impressions were 84,608 which is an increase from 73,484 registered in a similar period in 2019,” the Report says.
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