Digital out-of-home (DOOH) advertising refers to marketing material and campaigns that can have an impact on consumers while they are not within the comfort of their own homes. Forms of such media may pertain to digital billboards, street furniture, as well as displays that are visible at public locations and areas such as transit.
According to a forecast by eMarketer, DOOH is set to increase over the years in terms of spending. In 2019, it was at $2.68 billion, while in 2020, although the percentage change would reach 1.6%, the total amount of spending would be nonetheless higher than the previous year.
Spending in 2020 would reach $2.72 billion, while the following year would see a skyrocket percentage change of 19.2%, signifying $3.25 billion. In 2022 and 2023, DOOH spending would increase to $3.62 and $3.84 respectively.
The eMarketer report also noted that the digitization of outdoor displays is gaining more and more popularity, as between the years 2017 and 2019, the total number of digital displays rose from 1,693 to 7,266 for the U.S. portfolio of Outfront Media. Additionally, another proponent of such digital displays pertained to Lamar Advertising, which reported 335 more advertising units in 2019 and noted its intention of adding another 250 displays in 2020.
As for the Outdoor Advertising Association of America (OAAA), the U.S. trade group indicated 5,830 digital units within shopping malls in the first half of 2020. Meanwhile, outdoor placements and digital street furniture pertained to 5,742 and transit displays reached 7,847.
However, according to the OAAA, the most popular type of DOOH advertising were billboards. In the first half of 2020, the number of this particular form of digital advertisement reached 9,600. To put this into perspective, 2016 saw 6,700 digital billboards, indicating a 43.3% between those years.
As DOOH advertising continues to prove their effectiveness and growth, it is important for other businesses to consider the implementation of such a strategy when it comes to both their long-term and short-term marketing objectives. Whether a company’s goal is to increase brand awareness or improve the reputation of its products and services, knowing how to reach out to different target audiences is crucial to success.
The Find Your Audience team is here to help clients in their business endeavours. By working closely together with global executives, Find Your Audience is able to develop customized strategies that yield results. For more information and a thorough consultation on how to take advantage of the latest trends and statistics, as well as how to take a business to the next level, contact the team at either firstname.lastname@example.org or 647-479-0688.