How One OOH Company has Prepared for the CoronaVirus Infected Economy
Looking Inside Ocean Outdoor
How One OOH Company has Prepared
UK based OOH company Ocean Outdoor a Digital Out-of-Home (“DOOH”) advertising company in the United Kingdom, the Netherlands, the Nordics and Germany, shared details on how the company is working through the coronavirus economy.
Expecting “rapid deterioration’ in ad spend, the company is in talks with lenders and taking material steps preparing for the impact on their business. Details shared by Ocean include cutting all discretionary spend, reducing employee hours, approaching suppliers and landlords and introducing other cash conservation measures.
To protect jobs, Ocean’s Netherlands and UK businesses are reducing the staff working week and voluntary unpaid leave effective April 1.
Ocean’s CEO Tim Bleakley said: “COVID-19 presents digital out of home with a tough challenge. Governments have ordered DOOH consumers to stay indoors, something which is clearly out of our control, but which will have a material impact on our business if prolonged.
Here is the press release from Ocean Group⇒ Ocean Outdoor Update Covid-19