This time of year always sees a flurry of activity in the OOH industry, so we thought we’d help simplify your life a bit by taking a survey of the important and noteworthy goings-on and putting them all in one place for you. Here’s a quick overview of what’s happening:
TikTok is Changing the Nature of the Game
Content creators on TikTok have, to this point, been advertising exclusively online to help build their brands, but recently, TikTok announced a new advertising plan called “Out of Phone.”
Content creators who use this brand can leverage the power of digital billboards TikTok has access to around the world to move from exclusively online advertising to brand building in the real, physical world, showing their ads on selected billboards.
That’s huge, and many industry experts see the synthesis of social media advertising and OOH advertising as a natural evolutionary step in the industry. It is, however, a bit of an unknown, which makes it somewhat risky, but if the push into OOH proves a success, then the earliest adopters of the new opportunity stand to reap the biggest benefits.
OOH Enjoys Solid Growth In the Third Quarter
Although a great many industries are facing some economic headwinds, OOH advertising isn’t one of them, enjoying a 1.1% increase in the third quarter. That’s down ever so slightly from earlier in the year, where OOH advertising grew by 1.5%, but still represents solid, ongoing growth.
Digital OOH advertising led the charge, accounting for nearly a third (32%) of sales for the quarter and increasing by 6.8% compared to last year. All that to say, OOH advertising continues to be a safe bet and a reliable way to increase your sales.
The WOO Heads to Cape Town!
The World Out of Home Organization (WOO, for short) recently held their first ever African Regional Forum. Tom Goddard, the President of the WOO, had this to say about the gathering:
“Our regional Forums have transformed the way WOO communicates with and on behalf of the wider Out of Home world and we expect our newly-announced Africa Forum to bring still more people into the WOO family. Africa is a tremendously important market with OOH playing a major role in the wider media market. Our online event in 2022 received great support and going to Cape Town in person early in 2024 realizes a big ambition for our organization.”
Africa is steadily increasing the size of its middle class, continent wide, and in the years to come, will be an increasingly attractive market to sell to. While not every business will be able to increase profits by focusing on the African market, a great many industries do stand to benefit. With that in mind, depending on your business, it’s something well worth considering,
As ever, if you’re struggling when it comes to maximizing the ROI on the advertising dollars you spend, don’t hesitate to call us at 770-391-8528. We’ll be happy to assist!