Global out-of-home advertising revenues, including digital and traditional printed media, jumped more than six per cent to over $US49 billion in 2016, according to new research from US-based PQ Media.
Australia was the market leader in overall and digital out-of-home (DOOH) ad revenue growth, rising more than 15% in total revenues.
Global out-of-home (OOH) advertising revenues, including all traditional, digital and ambient media platforms, grew an estimated 6.2% to $49.23 billion in 2016, the fastest growth rate in nine years.
Key growth drivers included the rise in real-time information via digital signage during the Summer Olympics, which led to higher consumer engagement with OOH media, as well as the strength of traditional printed OOH, particularly in transit locations, as brands sought to reach on-the-go consumers with media void of ad-skipping technology, according to PQ.
"Our research shows that OOH media is one of the fastest-growing ad-supported media in both operator revenues and consumer exposure time, compared with decelerating growth among many traditional media platforms, particularly print," said PQ Media President & CEO Patrick Quinn. "With consumers increasingly accessing media outside their homes and the rise of ad-skipping and ad-blocking technologies, brands are increasingly turning to OOH media to engage target consumers near the point of decision."
PQ Media defines OOH by two broad media platforms – digital out-of-home (DOOH) and traditional & ambient OOH. Within DOOH are two channels: digital place-based networks (DPNs), screens that combine content and ads in venues like doctor's office, elevators and gas pumps; and digital billboards & signage (DBBs), signage that changes ad messages at predetermined intervals, like roadside billboards on a 30-second loop. Traditional OOH includes static billboards, street furniture and transit posters, as well as ambient OOH media, including ads placed on objects, non-traditional vehicles, and in unique locations.
The US is the largest market in all aspects of the OOH industry – total revenues, T&A OOH, and DOOH, as overall revenues reached almost $9 billion in 2015, with China and Japan both exceeding $7 billion. Australia was the market leader in overall and DOOH ad revenue growth, rising more than 15% in total revenues in 2015, according to PQ Media's Global Out-of-Home Media Forecast 2017. Brazil, Argentina and the UK all posted double-digit gains during for the year.
Global OOH ad revenues are projected to grow 6.2 per cent again in 2017.
In December, leading Australian OOH companies APN Outdoor and oOh!media signed a $1.6 billion “merger of equals” deal that will see with APN Outdoor shareholders taking 55 per cent of the newly merged group.