Out-of-home (OOH) advertising refers to promotional messages that reach consumers when they are, as the name implies, outside their homes. It’s a versatile medium that includes both traditional and digital formats, such as billboards, posters, transit displays (on buses, trains, and airplanes), and place-based media in public facilities and stores.
Here are some relevant data points and statistics about OOH advertising:
- Global Spending:
- In 2022, OOH advertising accounted for approximately 5% of the global ad spending, surpassing radio and print media.
- The global OOH ad spend declined by over a quarter in 2020 due to mobility restrictions during the pandemic.
- However, it has been steadily recovering, and by 2023, it surpassed $42 billion globally.
- The forecast for 2028 indicates continued growth, with the annual global Out of Home advertising spend reaching an estimated value in excess of $55 billion
- Effectiveness:
- OOH advertising is 382% more effective than TV, 200% more effective than print, and 63% more effective than radio in driving consumers online.
- 85% of consumers believe OOH is noticeable, memorable, and agree that it stimulates the economy
In summary, OOH advertising offers a unique way to reach consumers outside their homes, and its effectiveness in driving online engagement makes it a valuable addition to a business sales strategy.