Neuroscientists tell us that we demonstrate unbridled optimism in the face of adversity, all because optimism fires up more neurons in our brains. Apparently optimistic people also have high expectations, and because of this, are more likely to succeed and be happy. And for the Outdoor industry our optimism has paid off.
The 2015 Commercial Economic Advisory Service of Australia (CEASA) report – the market share benchmark for the advertising industry – shows Out-of-Home (OOH) once again out-performing the total media spend growth, with a 12.5%* growth in revenue in comparison to the market average of 8.4%.** This is a trend the industry has seen for the last five years and as a result, OOH market share has reached a new high of 5.3%.** We are particularly encouraged by our 12.5% growth as this is reflected across all of our formats including our static signs.
OOH still holds its spot in the top three best revenue growth channels for 2015. The other channels that saw revenue growth were Online (26. 1%), Cinema (20.7%) and Radio (5.1%). Print and Television shares continued to decline; Television (-0.6%), Newspapers (-7.9%) and Magazines (-12.7%).
In this time of moving and shifting market share, consumers are demanding to be communicated to on their terms and advertisers are increasingly looking for new and engaging ways to service this need.
As we know ‘Location’ is the new marketing currency and that is of course one of OOH’s key drivers. The potential for a brand’s message to be seen at the right time, while its audience is in a receptive state of mind is a very powerful proposition, and one that OOH is uniquely placed to offer.
We believe that our growth can be attributed to our unique position of giving advertisers the ability to both broadcast and narrowcast their messages by targeting specific locations, and thereby communicating a brand message to existing and new customers where they live, work and play. The multiple platforms Outdoor offers means advertisers can tailor a campaign, giving it maximum impact. This, combined with our growing digital portfolio gives advertisers immediacy and flexibility, better outcomes and a greater ROI.
For more details on CEASA results check out this month’s Anatomy of Out-of-Home.
*CEASA does not adjust previous year’s revenue for Outdoor. As a consequence, they report 2014 as originally reported at $602.3, hence $677.8M in 2015 is a 12.5% increase on 2014.
** Of total advertising spend (excluding Classifieds and Directories).