Digitisation is driving Out-of-Home (OOH) growth, especially in Europe. Digital now accounts for 40% of revenues from less than 10% of locations, says World Out of Home Organization (WOO) President, Tom Goddard.
That means a big opportunity is being missed with Classic (static) Formats, which still account for most OOH locations.
In the United Kingdom, for example, Classic delivers 90% reach of all adults in a week at about 20% of the cost of Digital. Classic OOH is OOH media's "sleeping giant".
Classic is a fantastic branding and directional channel — try buying a Classic Format near a McDonald's or KFC and you'll find they've bought it long term because it works for them.
Global OOH growth, building on its current USD$42-billion value, is now over 5% of global adspend.
Europe has overtaken North America for the first time according to WOO figures, with China still the market leader and APAC as a whole accounting for about half of global adspend on OOH.
The 10 commandments for OOH growth:
- Reposition Classic.
- Digitise More Inventory.
- More Ownership Consolidation.
- Measure all formats in all markets.
- Automate the entire trading process.
- Get behind National Trade Associations and collaborate more.
- Control your carbon footprint.
- Harness the potential benefits of AI.
- Take advantage of Retail Media opportunities.
- Enjoy yourself.
For further information, visit www.worldooh.org or contact Richard Saturley at richard@worldooh.org.
*Image courtesy of contributor