It should surprise exactly no one that 2020 wasn’t a great year for OOH (Out of Home) advertising. With much of the world shut down due to the pandemic, there just weren’t all that many people out and about to see OOH advertisements and even if there had been, there weren’t very many places that were actually open for business.
With the pandemic not quite gone but definitely fading, advertising dollars are flowing back into the OOH arena. This, however, is balanced against a shifting landscape in the OOH ecosystem. Estimates are that OOH spending will increase to nearly $7 billion this year, but where those dollars are being spent is changing, sometimes markedly. Here are some important statistics to be mindful of:
Billboard Advertising Is Strong
Surprisingly, during the pandemic, billboard advertising remained fairly resilient, experiencing much smaller declines than other forms of outdoor advertising. The resiliency of billboard advertising actually caused its total share of the OOH market to increase from 67.6% to 85.7% in the first quarter of 2021.
Digital Billboards Aren’t As Ubiquitous As You Think
Digital advertising is unmistakably the future, but the future isn’t here yet. According to the most recent data available, digital out-of-home advertising (DOOH) will account for just 31.2% of the total OOH market in 2021.
Programmatically Transacted OOH Is Still Tiny
Programmatically transacted digital advertising is simply a subset of DOOH, and while it represents the bleeding edge of the future, right now it is still very much in its infancy, accounting for just 3.8% of all OOH advertising and only 12.5% of DOOH this year. It is expected to account for 15.4% of DOOH next year, so even a year from now, it still won’t be a huge component.
While it’s not necessary to commit these figures to memory, knowing the general shape of the OOH landscape will help you make better decisions in the months ahead.
If you need help formulating your company’s digital ad strategy, don’t hesitate to call us at 770-391-8528.