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Outdoor advertising’s growth has been surging in the last year - thanks in part to entertainment advertising, heavy competition between communications providers and the rise in new outdoor technology including digital signage - and in the first half of 2006 the growth continued, meeting the expectations of the Outdoor Advertising Association of America.
Over the first half of 2006, total revenue grew 8.2 percent over the same period last year, topping $3.5 billion. If growth continues at that rate in the second half, 2006 revenue could reach $6.8 billion, MediaPost writes.
Other reasons for the growth in outdoor include a shift of dollars from print and television to out-of-home. That’s because of the “uncertainty” of the future validity of other media formats, according to Stephen Freitas, CMO for the OAAA.
Freitas points out that while the digital billboard segment of the outdoor ad industry is still relatively small, outdoor companies are being aggressive in promoting the industry and improving technology. Clear Channel Outdoor, for example, is testing a new technology in Europe that allows users to use only a fraction of the power consumption of existing digital systems.
Consumers are also spending more time out of their homes than ever before, and advertisers are eager to reach them wherever they go.
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