With under 70 days until the start of 2025, OOH is well positioned to complete 2024 as one of the top performing media channels. Growth for the first half of the year was almost 5% and MAGNA projects a +5.2% YE finish for OOH. Their 2024 YE forecast for the total US ad market of +8.9% would make the year the strongest non-cyclical growth rate since 2000, excluding the post-COVID recovery boom of 2021.
OOH’s Strength with Consumers
As highlighted in OAAA research over the past 18 months, OOH’s continuous strength in the ad marketplace is due to its massive reach, ability to engage consumers, and drive them to action. OOH’s strengths are highlighted in these recent studies, all supplemented with Infographics:
- Harris Poll Studies: OOH Impact on Key Product Categories
- Morning Consult OOH Advertising Study
- Harris Poll DOOH Advertising Study
- Benchmarketing Media Plan Optimization Analysis
OAAA encourages members to use the reports above, along with downloading our customizable research summary to fuel your sales and marketing efforts, Key 2024 Trends & Consumer Insights. This presentation recaps key proof points on OOH’s value in today’s marketplace including:
- OOH Industry Growth
- Consumer Journey and Experience
- OOH Effectiveness
- Digital Transformation
Consumers Prefer Offline Ads
Kantar’s just released Media Reactions Report states US marketers decreased investment in all formats of offline advertising in 2024 and projects that trend will continue in 2025. However, they note the disconnect from consumer preferences, as their study finds US consumers are most receptive to offline advertising, notably OOH, including cinema, and in-store point of sale. These formats have strong equity across all age groups from Gen Z to Boomers. The Kantar findings reflects the same results as OAAA-sponsored studies noted above showing OOH is at the top of consumer favorability when it comes to advertising.
OOH Deserves Greater Ad Spend Share
As noted by Kantar above and reported in past OAAA Benchmarketing studies, OOH is under allocated in most media plans. In an era of highly fragmented audiences, OOH remains a true mass media channel that reaches the vast majority of consumers. OAAA’s new Benchmarketing Media Plan Optimization study highlights how most media plans can significantly increase effectiveness without increasing budget size. This can be achieved by simply reallocating share from overspent channels, typically Digital and TV, and increasing share of OOH. By leveraging the power of OOH to amplify other media investments, brands can boost sales return on ad spend and increase brand metric scores. The Benchmarketing study showcases OOH’s effectiveness throughout the consumer journey from awareness to purchase intent.
For the latest insights on the 2024 year-end finish and the outlook for 2025, register today to join the OAAA November 6th webinar with MAGNA as they review their latest analysis on the US ad marketplace, key product industry verticals, and examine performance of OOH and other core media channels.
Published: October 23, 2024