The Outdoor Advertising Association of America (OAAA) released figures showing a 7% increase in revenue in Q3 2010 (vs. Q3 2009) for the Out-of-Home (OOH) advertising industry. Year to date, OOH advertising revenues are up 3.3% over 2009. The media and financial segments helped drive the increase, with the financial institutions reporting a one third increase in spending over the same period in 2009.
Although unspecified in this release by the OAAA, the Digital Out-of-Home (DOOH) category would seemingly be the fastest growing category in OOH. According to PQ Media data released on November 15th, the U.S. Digital Out-of-Home (DOOH) media category, which includes digital place-based networks, billboards and signage (including cinema), grew 14.9% in the first half of 2010.
Large advertisers and agencies are recognizing the cost effectiveness, reach, and impact of Out-of-Home and Digital Out-of-Home Advertising. Garry McGuire, CEO of RMG Networks, believes the DOOH industry will reach a tipping point in 2011. Exciting times for both media buyers and sellers in the industry. If in fact the DOOH media category is reaching a tipping point, expect that the biggest beneficiaries will be those who support & adhere to industry standards, are transparent in their reporting, and provide a truly valuable advertising medium. DOmedia is working to promote the industry by creating a marketplace built on industry standards to simplify the process of buying and selling OOH media.
