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OAAA: OOH Finished Strong 2015, Looks for Solid 2016 a High
Date: March 15, 2016
Marketers are putting their money where consumers’ eyeballs are turning. For many, this means adding the out-of-home format to the media mix. Last year, spending on the out-of-home format, according to the OAAA, reached $7.3 billion.
The 2015 spending level on OOH advertising marked a 4.6% increase over the previous year. In addition, marketers poured money into the format during the fourth quarter last year. While retailers always give OOH media a big boost during the traditional holiday spending period, many OOH providers saw their ad space being taken up by government, politics and organizations. The 6% boost in this category can certainly be traced to the contentious primary season, and OOH media sellers can likely expect strong demand for their space right through the elections that will take place later this year. Billboards and other OOH formats can be strong reminders to voters who are thinking about both issues and candidates as they go about their days commuting, working and shopping.
Other industries experiencing strong growth in OOH last year included local services and amusements with a 9% increase in revenue. This category includes everything from healthcare to family entertainment centers. Local service providers are putting money into OOH marketing to capture the attention of busy parents in their markets. The same holds true for automotive dealers and service providers who spent 6% more on OOH than in 2015. And financial services companies have also been allocating more money to the OOH format. The data indicates these businesses spent 4% more last year on OOH.
According to Stephen Freitas, OAAA chief marketing officer, “OOH’s ability to augment mobile, online, and social media efforts is one of the many reasons the industry posted strong growth with both local and national advertisers in 2015.” Freitas also noted that OOH’s reach across digital and traditional formats gives extra reach to marketers. If you’re selling OOH space, talk with your prospects and clients, especially political candidates and PACs, about the strength of the format.
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