When I turn off the lights, and walk in the dark towards my bed, I inevitably hit the table on the way and then I wonder, ‘did the object hurt me or the lack of light?’
Now this one I will keep sweet and short, though may be not so sweet.
It is sufficient to say that the advertising industry suffered a setback in the year 2020, but as far as Out-of-home advertising industry was concerned, it was nothing short of a great depression. Now even in the pink of its health it was not a beacon of hope for the people involved but say what you will, there is a certain charm of this physical medium that is unbeatable.
Either way without going into the merits of the medium, let’s look at what the wonderful people at GroupM have to say about what future holds for the revenues in outdoor advertising industry.
We are simply looking at the American market. The numbers may not reflect situation in countries such as India, where the effect on OOH has been catastrophic. Professionals have figuratively become homeless, they have moved towns, profession, job titles and in a case or two, countries.
OOH v TOTAL REVENUE SHARE (in mm$)
OOH PERCENTAGE SHARE OUT OF TOTAL
OUT OF HOME GROWTH RATE
OUT OF HOME MEDIA REVENUE AND GROWTH RATE
The graphs are self-explanatory but if key points were to be made, they would be –
Out of home’s share of revenue has always been dismal and is poised to remain so.
When industry takes a hit, out of home takes a beating or as my North American brethren would put, shellacking.
It would take years of consistent growth to reach numbers from few years before.
And I am sure if we looked deeper some more depressing facts and figures would make themselves visible.
As an out of home data and software consulting firm, we are well aware of difficulties faced by the industry. The challenge of digital advertising and not to mention the impact of Covid, but a stronger case could have always been made, but now it is imperative for the industry, if it has to survive much less thrive for some time to come.