TOP 5 MUST KNOW OUT-OF-HOME ADVERTISING TRENDS
Despite popular belief Out-of-Home advertising is stronger than ever. OOH advertising revenue has grown by over 23% in the past decade to over $6.4 billion. The main reason for this is because outdoor advertising is in a constantly innovating itself. The interesting thing is that OOH has found an ally in digital advertising. OOH and digital advertising have combined to produce a hybrid that it got its own abbreviation DOOH. In this article we will talk about top 5 five areas where we expect to see the biggest potential for growth.
According to the Advertising Association/Warc Expenditure Report, DOOH worldwide spend was 31% of the total out-of-home ad spend in 2015. This is expected to rise to 45% by 2018. And PwC predicts that DOOH advertising revenues will overtake traditional spend in 2020. So for the math people in the room, the spend will be growing at a rate of 15% a year for the next four years.
86.3% of executives from media agencies and outdoor specialists identified DOOH as having the biggest growth potential over mobile, video on demand and other media channels in a recent Ocean sure 2016 Ocean survey.
This unprecedented development is being mainly fueled by innovative technologies in the digital industry.
1. LCD SCREENS WILL REPLACE PRINTED BILLBOARDS
The main factor in this is the development in LCD/LED display industry. Over the last 10 year the prices have been dropping significantly while the quality has been going up. In a recent study they predict that digital out-of-home inventory will grow by 40% between 2015 and 2020.
2. INTEGRATION OF MOBILE AND DOOH
Yes, it will start with integration and will end with a one fluid experience. Have you ever checked out a product on amazon only to view an ad for the same product on a totally different website? Well imagine digital billboard working the same way. As your phone will become a true super computer it will be able to transfer more data to DOOH advertisers. Also, Bluetooth low-energy beacons will be a game-changer, enabling DOOH advertisers to deliver timely and targeted messages directly linked to DOOH creative.
3. SMART CITIES
If you live in major cities then you’ve probably seen smart digital billboards. In Birmingham and Manchester, Signature Outdoor’s The Loop delivers 22 full-motion digital locations, linked with Wi-Fi, equipped with facial recognition and offering connectivity for mobile audiences. In New York, the network of LinkNYC public Wi-Fi hubs combines digital signage with superfast Wi-Fi, built-in device-charging and a tablet giving access to local maps and other points of interest. And in Paris, 100 of the city’s iconic newspaper kiosks will be upgraded next year with DOOH touchscreens, offering digital self-service, event-ticket sales and device-charging facilities.
In other words, DOOH is becoming a staple of any city. As this trend continues advertiser have to adapt and make content that actually fits this relatively new medium. We believe that this will be a combination of a digital assistant and programmatic advertisements.
4. 3DOOH (3D OUT-OF-HOME)
Yes, OOH will go 3D. Actually it is already happening and Ads For Carts is pioneering this space. We specialize at placing 3D billboards all over NYC. So if you have an outdoor budget and you want the greater effectiveness than regular OOH at the fraction of the cost give us a call or contact us here by clicking here.
5. IDOOH (INTERACTIVE-DIGITAL-OUT-OF-HOME)
At Ads For Carts we are proud to coin a new term IDOOH and it stand for Interactive Digital Out of Home. Yes, this will be a trend. Just think of it as a Nintendo Wii gaming console…but on steroids.
Also, with better data connectivity, you will be able to see live content on billboards worldwide and as a user you will be able to interact via gestures and touchscreens.