Trends in Out-of-Home Advertising
Out-of-home media is set to evolve in the coming years, according to a report published recently by PWC. The overall OOH format has witnessed some significant changes such as the move to digital platforms, as well as data sources and accountability, which changed the perception about this medium.
According to PWC Media Outlook, the global total OOH advertising revenue is set to grow at a 4.6% CAGR to reach US $45.37 billion in 2019. The key growth driver will be infrastructure investment creating increased and improved OOH advertising space. The strongest growth will be seen in countries with high levels of infrastructural development, including Turkey, China and Brazil, which have forecast CAGRs of 12.8%, 9.8% and 9.1%, respectively. Besides the changes mentioned above, we summarize below some of the trends we expect to become increasing relevant:
Real-Time OOH trading will steadily increase: As more and more OOH vendors integrate inventory into demand-side-platforms, the medium use is expected to increase. This will promote the expansion of further real-time initiatives.
A new phase in hyper-targeting. OOH development systems incorporate data sources including mobile carrier data and online browsing behavior. This will give international media buyers additional opportunities to target their audience and run increasingly effective campaigns.
The number of digital screens will increase significantly: This change is on-the-move and while there are still a lot of places where traditional OOH systems are in place, we will see a massive increase in digital screens especially in urban spaces.
OOH will be a core part of social and mobile strategies: We will see more and more campaigns with OOH as a centerpiece. This will be through incorporating large digital billboards, Google search data, mobile and socially activated call to action which in return will help focus on analytics thus increasing the efficiency of OOH.
The “traditional” OOH is modernizing rapidly and given its high attention value during the contact with the target group, it will be an important part of each marketing and communication strategy.
ZIGT Media Agency