Experts in the landscape of advertising have predicted that out-of-home (OOH) advertising is set to surpass print spend and become the third most popular format, noting that, print ad spending continues its decline, while other media channels such as OOH, cinema, and audio are showing incremental growth year-on-year.
According to a recent report by Dentsu, if the current pattern of spending continues, OOH is projected to overtake print spend and secure its place as the third most favored advertising format by 2026. This forecast is based on long-term extrapolations that indicate a rise in OOH spending by 3.8 per cent, cinema by 2.1 per cent, and audio by 0.8 per cent, while print ad spending declines by 4.8 per cent.
However, GroupM, a leading media investment company said the change could take place as early as next year. The firm predicts that outdoor advertising could surpass combined spending on newspapers and magazines by 2024.
Global president of business intelligence at GroupM, Brian Wieser, attributed the resilience of outdoor advertising to its unique characteristics for advertisers, noting that, the medium has continued to evolve, adapting to the changing demands of the industry.
Outdoor advertising, with its rich historical roots, has proven to be a steadfast marketing channel throughout the ages. Its origins can be traced back to ancient Egypt, where shop signs played a pivotal role, and Roman paving stones featured directions for brothels.
The chief executive of Clear Channel, one of the prominent outdoor media owners,William Eccleshare, described OOH advertising as the “last true mass-reach medium” in a world where television audiences are increasingly fragmented. This distinction has contributed to its enduring popularity among advertisers seeking broad and impactful messaging.
