OOH advertising spend to hit $33bn by 2021

Global out-of-home advertising expenditure is to grow by 14 per cent, according to a new report.

IPG Mediabrands’ forecast unit Magna and OOH specialist Rapport have released a study predicting the sector is likely to grow from US$29 billion to US$33bn by 2021 after having flatlined over recent years.

According to study, entitled the Media Economy Report, the OOH market share has hovered around 6 per cent of global advertising spend for the past five years. However, the market share is said to have increased  increased from 8 per cent to 10 per cent of traditional media advertising during that time.

The report surveyed 22 different markets, including Singapore, Thailand, India, the Philippines and Malaysia. Reasons listed for its likely growth included better measurement technology, including electronic location data and eye-tracking, plus developments in interactive billboards and street furniture.

The study also argued that OOH was becoming more “addressable” due to programmatic technologies being developed to automate digital outdoor media buying, plus the possibilities of having real-time outdoor ads such as sports results and weather forecasts.

Vincent Létang, Magna’s EVP for global market Intelligence, said: “Thanks to favourable lifestyle evolutions, innovation and investment from media owners and public authorities, OOH has been the only ‘traditional’ media category to show consistent growth in the last ten years, while TV and radio have stagnated and print sales have declined.”


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