Out of Home Advertising (Billboards and EMCs) Growth Rates Outperform All Other Traditional Media
The average individual media consumption is now more than eight hours a day. 46% of the world’s population is already online
and consumer internet forecasted to increase
12% globally this year. All this means, the outlook for digital media is as bright as the one for traditional media is dim. People nowadays are reading blogs instead of newspapers and magazines. They watch Netflix and Hulu instead of TV. They skip ads with their DVRs. They listen to Pandora and Spotify over broadcast radio. Traditional media is slowly dying, with the one exception of Out of Home Advertising (OOH). All other traditional media types struggle. Nonetheless, OOH -Billboards and Electronic Message Centers- has been growing for years. That growth is not expected to slow down any time soon. Why is that and how can we take advantage of that growth?
Out of Home gives the advertisers the ability to reach an elusive audience while they are seated in their cars or in the park. A captive audience, often bored with nothing else to do. A message in a billboard or an electronic message center is not surrounded by editorial programming or photographs competing for the audience attention. It allows for great demographic targeting. No wonder is one of the most cost effective forms of advertisin
g. Those are several of the reasons why, OOH is one of the oldest forms of advertising, and is still one of the most effective. Nevertheless, that doesn’t explain why Out of Home Advertising’s revenue has been steadily growing for the last 24th consecutive
quarters. OOH has an expected compound annual growth rate of 4.8% from 2014-2019. This healthy outlook is mostly because Out of Home advertising has been benefiting from the advances in technology. OOH has transformed itself into an amalgamation of traditional and digital media. It is this digital part of Out of Home advertising that is responsible for the growth of the overall type of media. Digital is expected to grow at a compound annual rate of 9.8%. Its share of the total OOH advertising will move from 34.7% in 2015 to 43.5% in 2019
Digital Out Of Home Advertising
The advent of digital displays in OOH advertising and the ever larger percentage of TV viewers skipping commercials with their DVRs is making Out of Home Advertising an increasingly appealing way of connecting with consumers. Digital Out of Home (DOOH) gives advertisers all the advantages of traditional OOH advertising. It also ads the ability to use impactful and dynamic imagery and video feeds the same way a television can and nobody can “skip” a fixed sign on the road. Moreover, digital signage gives the advertiser an unprecedented flexibility achievable only with online advertising. These OOH displays are controlled by a computer. Even better, more sophisticated devices use internet based accounts, accessible from any internet enabled devices. A good examples is Cirrus Systems with the LED cloud. Display owners can easily change the content of their signs by accessing their accounts. Changes can be made with programs that resemble image editors with a calendar. This not only allows for targetting different demographics at different times of the day or days of the week. It also enables different consecutive messages. Easy software admits for easy and frequent testing in real life scenarios. Changes in marketing campaigns directions are virtually free. And it is simple and fast to use current events in messaging, etc. With cloud based software, Digital Out of Home is as versatile as online advertising.
Those are the reasons why Digital Out of Home is thriving.It merges the advantages of traditional Out of Home Advertising, TV and online, in an easy to use, affordable package. To take advantage of this growth one needs to “go digital”. Equally important is to partner with a display provider that is on top of hardware and software technological advances. This provider needs to constantly innovate, and provide a robust offering that allows for flexibility, targeting, and video solutions.
Let us know what you think of this post by posting a comment below, sending us an email to email@example.com. Or let us know on our social media channels: Facebook, Twitter, YouTube, Google plus