Outdoor Adspend Climbs By 14% In Second Quarter
Confidence in the outdoor advertising sector continued to go from strength to strength in the second quarter of this year with revenue increasing by an impressive 14.2% year on year to £211 million, according to new figures released this week.
The latest data from the Outdoor Advertising Association reveals the second highest ever quarterly revenue for the medium, which continues to chase its elusive 10% market share, after notching up an impressive 9% during 2003 (see Outdoor Advertising Set To Claim Record Market Share).
Advertisers that increased their spend on outdoor advertising in the three months to June 2004 included the online retail sector, which boosted spend by a massive 196%; property brands, which rose by 178%; household equipment, which saw seen up by 123% and leisure equipment, which increased its outdoor investment by 113%.
Explaining the continued growth in outdoor advertising the OAA’s operations director, Bill Wilson, said: “I think there is confidence in the sector. It is more consolidated and more co-ordinated. I think the product on the street is much better and the research and data behind the industry from things like POSTAR make a big difference.”
He added: “At times we shoot ourselves in the foot by saying we’re the last broadcast medium and in the next breath saying we can specifically target. It’s a bit contradictory, but there are certain formats that can achieve both. The more peripheral formats, such as loo advertising deliver a large, very targeted market. It’s a very captive audience, as is the case with shopping trolleys and point of sale.”
The latest figures are published ahead of the OAA’s annual conference in September. The event, held in Barcelona, will see leading figures in the market deliver findings on the effectiveness of outdoor advertising, designed to further increase the medium’s accountability and enable outdoor advertising to increase its market share.
Earlier this year the OAA revealed the results of its marketing blitz to increase take-up of out-of-home marketing. The research found that 83% of agencies approved of the campaign, while 80% of adult members of the public agreed that posters make brands really stand out (see Outdoor Awareness Campaign Hailed A Success).
Outdoor Advertising Association: 0207 973 0315 www.oaa.org.uk
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