This month, there’s quite the variety in the news. Some of it is exceptionally good and exciting, but we also have a bit of bad news which inevitably has to appear from time to time. Staying on the positive side of things, this month we discovered that Out-of-Home saw an extraordinary first quarter of the year. In fact, it was the best one to date! Furthermore, InfoComm 2024 is right around the corner, and OnSign TV will be presenting. If you’re planning on going, below we’ll cover all the details you’ll need to know.
Out-of-Home sees a sudden rise in Q1!
According to several sources, US OOH ad spend experienced the highest ever first-quarter volume increase. It’s up by 6.8% in Q1 2024! This accounts for $1.94 billion, based on figures released by the OAAA (Out of Home Advertising Association of America). Digital Out-of-Home accounted for over 32% of the sales. This is an exceptional increase from 10.3% last year.
“It’s no surprise that we continue to see impressive growth across our industry as marketers look for more effective ways to connect with consumers,” said Anna Bager, President and CEO, OAAA. Among the top ten product categories within the OOH spending bracket, the three with the greatest growth were Online & Mobile Travel Services (+137%), Legal Services (+19%), and Television & Cable TV (+18%). Take a closer look at the details and stats on the official OAAA website.
In news related to this topic, a good indicator of global OOH growth can always be the frontrunners of the industry. For JCDecaux, Digital Out-of-Home ad revenues rose by 28% in the first quarter of 2024!
InfoComm 2024 is coming in June!
The largest professional audiovisual trade show in North America is right around the corner! Every year, InfoComm brings together everyone from manufacturers to end-users from around the globe. It’s an excellent opportunity to see the latest services, products, and technology. The event will take place June 8th-14th, in Las Vegas, Nevada. There is much to see and do at the event, including conferences, tours, and collaboration opportunities. For more information and registration, visit the official InfoComm website.
We’re excited to share that OnSign TV will be present at the event, so stop by and say hello at booth W2271! For more precise navigation, take a look at the InfoComm 2024 floorplan.
Brands are rethinking OOH strategies
ModernRetail recently published an article that will prove useful for businesses looking to utilize Out-of-Home advertising. As profitability becomes a greater concern for marketers, it’s more important than ever to have a razor sharp focus on spending. The outlook of marketers is shifting from strategies focusing on consumer awareness to those resulting in direct conversions. With that in mind, the expectations brands have from OOH are increasing. As it’s proven its worth, OOH is expected to help reach key demographics and increase the odds of purchases.
Brands like Saint James, Dagne Dover, and Coterie now employ OOH not only to build brand awareness but also to promote events, launch products, and reshape brand perceptions. To summarize, Out-of-Home is helping bridge the gap between awareness and direct consumer action. This is important knowledge for digital signage users, no matter how small. They can implement similar strategies that aim to both inform the user about a product but also engage them in a funnel which will lead to conversions.
Mumbai billboard 9x the legal size collapses
This month we saw several reports surrounding a deadly collapse of a huge billboard in Mumbai, India. The 120 by 120 foot static billboard collapsed during a storm, killing 16 people and injuring 75. The structure was nine times the allowed size, leading to questions on how its construction was authorized in the first place, with some suspecting government officials may have been involved. Furthermore, the media company in question has seen many legal challenges prior to this incident. Another unfortunate part of the story is that the billboard in question had been red-marked for more than a year, with notices issued to remove it several times before the incident. The director of the company in question has since been arrested and charged.
While this piece of news is certainly grim, it serves as an opportunity to highlight the importance of enforcing and following rules when it comes to billboard construction and safety, whether they be static or digital. We often observe delicate and detailed laws about billboard size, placement, and area surrounding them. The potential consequences of breaking those laws are easily forgotten. In this instance, they vastly surpassed damage to property.
Digital signage vs. traditional signage
This month on the OnSign TV blog, we put the digital signage industry under the magnifying glass to point out its advantages compared to its traditional predecessor. As you’ll find in the blog post, digital signage proves to be more engaging, effective, and adaptable, among other things. In another blog post we talked about the topic of quick messaging via digital signage. Using a few tips and guidelines from it, you will ensure to effectively communicate with the consumer in seconds!
That wraps up this news set, until the next one. Once again, if you’re visiting InfoComm 2024, don’t forget to stop by the OnSign TV booth!
Cover image by Grigorii Shcheglov.
