Advertisers took advantage of the outdoor season in Q2 and increased their out-of-home media buying in a big way. The OAAA pegs the marketer spending at $2.49 billion.
Tag: out of home
We’ve watched mobile advertising overcome desktop and laptop advertising spend, but this year, it’s going after TV’s ad spending.
Your clients may get more return from their marketing investments if they use digital in conjunction with out-of-home advertising. Writing for MarketingProfs, Paul Inman explains this reasoning.
Consumers are paying attention to all things digital these days. This includes noticing digital out-of-home (DOOH) signs. Marketers have begun to realize that promotions on digital out-of-home signs are having an impact and PQ Media analysts are predicting that industry operators will be able to increase their sales of this digital inventory by 14.2% compound annual growth rate (CAGR) between now and 2017.
Out-of-home (OOH) ad spending continues to perform well this year. During the first 6 months of 2013, advertisers paid more than $3.7 billion to have their ads seen on billboards, street furniture and transit locations and in cinemas. The industry trade association, the Outdoor Advertising Association of America, points out that growth in the format has been steady since 2010 and is expected to continue.
Several major research shops have pointed to a slowing revenue picture for the ad industry in 2012. However, the out-of-home channel is continuing to grow. To explain the growth, industry experts point to the effectiveness of the channel as well as heavily-contested political elections.
Marketers know that consumers who possess smartphones make for an always-on target audience. But, not all consumers have smartphones yet. And, some marketers need to make an extra impression on consumers, especially when they are away from home.
Out of home advertising seems to be continuing the strong recovery it started shortly after the economy pulled out of recession. In reporting the year-end figures for 2011, industry officials noted that the format has been growing for the past 7 quarters. In addition, officials at the Outdoor Advertising Association of America (OAAA) say 2012 should be a positive year.
After the downturn in ad spending by key industries such as automotive and financial services during the recession, the outdoor market is making a strong comeback. New technology and formats in this sector are attracting marketers who are looking for the best way to snag consumer attention. The latest forecasts from Global Industry Analysts (GIA) predict worldwide outdoor ad spending of $43.8 billion by 2017.
With consumer attention being increasingly difficult to capture these days, marketers are looking into new formats. For many, the out-of -home venue is attractive. The Outdoor Advertising Association of America (OAAA) reports that up to 12,000 new marketers began using out-of-home last quarter and more are expected to do so through the end of the year.
Marketers are intent on reaching consumers as they go about their daily business. And they realize that not all consumers are delighted to read advertising on their smart phones. As a result, media planners and buyers have been steadily increasing the amount of money they are spending on digital place-based media or DOOH.
Consumers can’t spend all of their time connected to the Internet through their mobile devices. As consumers travel about, they make great targets for out of home advertising. Marketers are counting on reaching consumers through either DPN (digital place-based networks (DPN) or digital billboards & signage (DBB).