While it’s no secret the advertising industry as a whole has felt the repercussions of the economy this past year, a recent forecast from PricewaterhouseCoopers tells us there’s hope yet! Once again, the future is looking bright for out-of-home, especially compared to some traditional media.
While radio is expected to continue declining over the next five years, PwC is optimistic about the out-of-home industry, according to adweek.com. After a year of decline, ad spending is expected to increase in as early as 2010, with continued growth for the next three years. By 2013, PwC predicts OOH ad spending to grow to $8.2 billion at an annual rate of 2.5%.
Some of the success of the out-of-home advertising industry can be traced to its ability to incorporate new and improved technology such as digital screens and interactivity, making ads more visually appealing and engaging to consumers. Plus, with audience measurement constantly improving (TAB’s Eyes On Ratings, for example), advertisers are more likely to turn to OOH than ever before.
