Out of Home Advertising Trends
Delivered August 26, 2019. Contributor: Alexandra Y.
Goals
The goal is to identify current out of home advertising trends in the US to inform a pitch.
Early Findings
- Out of Home advertising spend grew 4.6% in 2018 and was the only traditional ad format to see growth.
- Digital OOH ads are expected to grow by 10% by 2021. Digital ads have a market share of 37% of the total OOH advertising market.
- Digital OOH advertisements are becoming more mainstream, even though print still dominates. Some examples of new uses include digital bus shelters, billboards that can change based on the speed of passing traffic, and other digital signage.
- New technology is allowing digital signage to adapt to the type of users nearby based on their mobile phones and their searches. One example is a pharmacy billboard that can sense that searches for flu medications on mobile phones have peaked in the area, thus triggering a signage change to flu medication ads.
- McGaryBowen CIO, Phil Gaughran, predicts that 80% of the advertising process will be automated (versus manual means such as spreadsheets) by 2022.
- According to Forbes, 3D hologram advertisements are a new innovation that companies should look into. They provide the example of Hypervsn's new advertisement. The company "created 3D holographic images with a device made up of four blades covered in LED lights. When the device spins, it creates a 3D image that looks like a higher-quality version of R2-D2’s hologram of Princess Leia in Star Wars".
- Other trends mentioned by Forbes include software and services used by companies to easily create digital advertisements, such as Adomni, and more attention to detail regarding the mounts that the advertisements are displayed in.
- We found some proprietary research from one of our data partners which may be helpful:
Industry Trends, Digital Out of Home Market by Product (MarketsandMarkets, $613)
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Research proposal:
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