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Behind the Numbers: an EMARKETER Podcast
The Daily: Why OOH Advertising is Making a Comeback, the Potential of OOH CTV Ads, and More | Sep 3, 2024
Sep 3, 2024
Yory Wurmser, an analyst specializing in advertising trends, dives into the resurgence of out-of-home (OOH) advertising. He shares insights on the impressive growth in the first half of the year and how OOH has evolved post-pandemic. Yory discusses the benefits of integrating digital elements and programmatic strategies, spotlighting changes in consumer engagement. He also explores the potential of OOH connected TV ads and what the future holds for digital advertising as we approach significant events like the 2028 Olympics.
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Quick takeaways
- Out-of-home advertising revenue grew by 3.4% in Q2 2024, driven by significant digital investments and increased political ad spending.
- The transition to digital formats represents a substantial opportunity for OOH advertising growth, with only 35% of spending currently on digital.
Deep dives
Growth of Out-of-Home Advertising
Out-of-home (OOH) advertising has seen a significant recovery, with revenue growing by 3.4% in Q2, reaching almost $3 billion. Major players in the OOH sector, such as Clear Channel Outdoor and Lamar, reported strong Q2 figures contributing to this growth. The recovery is largely driven by increased digital investment, with digital channels accounting for about 80% of the overall growth. Moreover, political ad spending has surged, quadrupling since 2020, indicating that election cycles are a crucial component impacting the OOH market.
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