NEW YORK, NY - According to studies by PQ Media and Veronis Suhler Stevenson, consumers are spending more time outside the home in activities that include commuting, shopping, and traveling, and entertainment venues also provide new opportunities for advertisers. Digital out-of-home networks situated in venues where consumers are spending extended periods of time—and are unable to skip advertisements—will provide the most opportunity in the coming years. PQ Media/Veronis Suhler Stevenson latest projections for the digital out-of-home market are forecasting strong growth, moving from $1.8 billion to $3.4 billion by 2015.
"That's represents a 94% increase over the next 4 years. That's a rising tide," said François de Gaspé Beaubien, Chairman and Chief Coaching Officer at Zoom Media and Marketing, and keynote speaker at this year's Strategy Institute's Annual Digital Signage Investor Conference held on Tuesday, October 18, 2011 in New York.
While digital out-of-home continues to gain momentum with advertisers, there are issues that investors need to be aware of. "Here's the reality: advertising agencies are still trying to figure out how to plan and buy digital out-of-home media," said Mr. de Gaspé Beaubien. "Some really get it and are moving in the right direction, but most don't. It's kind of like the early days of the Internet. Agencies are trying to figure digital out-of-home out, and right now we all need to be evangelists for this medium."
Video has become the preferred advertising format to reach consumers. Television advertising currently accounts for more than $60 billion in marketing dollars within the United States, and pre-roll advertising embedded in online video is one of the fastest growing areas of advertising on the Internet. Digital has become the fastest growing sub-segment of out-of-home advertising.
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