With all of the focus on the hyper-growth of online advertising, it’s easy to forget that there are other key media formats in the marketing arena. And some of these formats, while smaller than TV, are showing potential for growth in the next several years. Revenue projections provided by ZenithOptimedia are looking particularly strong for the cinema and outdoor ad sectors.
ZenithOptimedia analysts say that cinema will remain a small but growing force in the advertising sector. Between 2010 and 2011, cinema advertising will rise from $2.258 billion to $2.393 billion. This increase marks a $236 million jump or 10.5%. By 2013, cinema advertising should be worth $2.681 billion. Jonathan Barnard, head of publications at ZenithOptimedia, feels bullish about cinema, saying, it “is a relatively new medium that delivers large numbers of otherwise hard-to-reach young, affluent consumers.” This projected increase also coincides with a new push by movie theater chains to update ambiance. A recent Wall Street Journal article noted that more moviegoers are being treated to seat-side service by wait-staff that delivers drinks and dinners while the feature and ads are playing.
Likewise, the outdoor market will pass the $30 billion mark in 2011. Ending the year at $30.945 billion will give media providers in this space a $1.6 billion increase over 2010 or a solid 5.5% revenue jump. Analysts predict outdoor will be worth $34.554 billion in 2013. At that time, outdoor will have 6.8% of the ad market, a share that will be closing in on magazines with an expected 8.3% that same year. Outdoor is still dominated by billboards and the top spenders in this format remain financial services, automotive, communications and entertainment. In addition, technology advances which allow for digital – and therefore changing content as well as video – transmission are boosting interest in this format.
Marketers looking for ways to reach consumers in new spaces will likely be allocating part of their ad budget to cinema and outdoor this year.[Sources: Steady recovery in global ad growth to continue. ZenithOptimedia.com. 6 Dec. 2010. Web. 5 Jan. 2011; Fitzgerald, Toni. For out of home, 2011 is looking brighter. MediaLifeMagazine.com. 22 Dec. 2010. Web. 5 Jan. 2011; Schuker, Lauren. Double Feature: Dinner and a Movie. 5 Jan. 2011.Wall Street Journal. Web. 7 Jan. 2011]