Out-of-home advertising is the industry’s only medium to have remained static in terms of share of spend over the last decade. A lack of growth over such a long period might be interpreted negatively, but maintaining a solid share of the market during a period of intense fragmentation could be considered a positive.
Many view the future of OOH in optimistic terms. Other forms of traditional media have seen significant declines while digital has witnessed exponential growth, but OOH is unique in that it has managed to steer a course through these turbulent highs and lows and retain a solid 6.7% share of the market.
However, for it to survive the next few decades, OOH needs to evolve. If the industry fails to take advantage of the opportunities coming its way, other players will enter the market and do it for them, according to Barry Cupples, CEO of Talon Outdoor.
“The race is on. Large tax consulting groups are all looking to grow their [ad] businesses. As an industry we shouldn’t for one moment think that companies in the online video space aren’t telling their clients they can also do OOH,” said Cupples, speaking at the FEPE International Congress (Dubai, May 2019).