According to the latest Concord Outdoor Rates Forecast, demand for Christmas space is weak, with outdoor looking set to fall short of expectations on pre-Christmas advertising spend. The market is virtually sold out for October and November however.
Concord has revised its rates growth forecast for the fourth quarter of 1994 down from 20% to 18%. The much-hyped national lottery blitz, which was expected to boost outdoor rates for the fourth quarter has not occurred. Concord believes that Camelot may yet take some of the available panels in December. The poor December rates have also pushed the annual year on year projected increase down from 15% to 14%.
Concord Outdoor Rates Forecast for 1994 against 1993
Period
Panel rates
Quarter 1
+20% (actual)
Quarter 2
+11% (actual)
Quarter 3
+11% (actual)
Quarter 4
+18% (projected)
Year Overall
+14% (projected)
Steve Wilson, Strategic Buying Director at Concord, said, “The outdoor industry has to look very critically at selling pre-Christmas space. The move to fortnightly campaigns has allowed advertisers to pull out halfway through December and put their money with other media. With Christmas shopping followed by holiday travel, it is a time when road traffic volume is high. The outdoor industry should be communicating this message to advertisers.”
Concord: 071 434 9434
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