What’s still way-hot in out of home: Digital advertising
August 11, 2016
U.S. DOOH revenue jumped 11 percent to $2.71 billion in 2015, according to a new report from PQ Media. The company says that was the fastest growth rate in five years.
It appears that extra revenue was a solid investment by advertisers. Consumer exposure to DOOH ads jumped 4 percent year-over-year to 54 minutes per week on average.
This year will see more strong numbers. PQ Media predicts DOOH revenue will jump another 8.7 percent in 2016, while consumer exposure will rise another 5.3 percent.
Place-based ads lead the surge
PQ breaks the DOOH industry into two segments, place-based networks and digital billboards.
Digital place-based spending rose 13.8 percent last year to $1.82 billion, its first double-digit increase since 2010. Movie theater advertising helped drive the segment, led by National CineMedia.
Meanwhile, the digital billboards segment saw slower growth last year, rising 5.6 percent to $894 million. PQ says Outfront Media was the primary driver of the segment, while Clear Channel Outdoor struggled due to the closure of 77 digital boards in Los Angeles.
The forecast calls for solid growth for the foreseeable future. PQ predicts U.S. DOOH revenue will grow at a compound annual rate of 9.3 percent through 2020.
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