Cynopsis Digital Out of Home 07/24/24: Global LED billboard market forecast to hit $7.3 billion by 2031; Amazon's Audible launches massive AR campaign

Wednesday July 24, 2024

The “DPAA 2024 Omnichannel Decision-Makers Study,” conducted by Advertiser Perceptions and sponsored by Kochava, found that eight in 10 respondents will recommend digital-out-of-home to be part of their media plans over the next 12 months, with 96% of marketers and agencies planning to increase or maintain spending in the next 12 months. The study also found that:
· 58% of respondents see DOOH as an important part of omnichannel video campaigns.
· 41% consider DOOH to be an extension of TV/video planning.
· 49% of integrated video teams include DOOH alongside TV, mobile and online, up from 36% in 2021.
· 76% of advertisers believe DOOH has become less siloed, and an integrated part of cross-channel strategies, up from 66% in 2021.

“From programmatic buying and innovations like AR, VR, interactive QR codes, 3D capabilities and more, to accessing the robust data that powers addressability, contextual marketing, measurement and attribution in a brand safe environment, this study shows that the future is bright for DOOH,” said DPAA President and CEO Barry Frey. “DOOH continues to be one of the fastest-growing areas of the overall ad ecosystem, and with increased reach, scale and full-funnel opportunities taking shape, it’s easy to be optimistic about this exciting sector, whether a brand, agency or media seller.”

High alert: Cannabis seltzer WYNK has launched a campaign dubbed “Get Together” with the message, “It’s seltzer, with a WYNK of THC.” Included in the diverse media mix are visuals displayed on traditional billboards, digital Soofa signs, trucks, and pedicabs in high-traffic areas like Wicker Park in Chicago, Fenway Park in Boston, Northern New Jersey highways, the streets of downtown Minneapolis, and across digital boards throughout Nashville and Ohio.

The Global LED Billboard Market is expected to reach $7.3 billion by 2031, rising at a market growth of 10.3% CAGR, according to the “Global LED Billboard Market Size, Share & Trends Analysis; 2024 to 2031” report. “As the media and entertainment industry expand, there is a corresponding increase in advertising spending by media companies, entertainment studios, and content creators,” notes the report. “LED billboards provide an effective platform for promoting movies, TV shows, music releases, and other entertainment content to a wide audience, driving demand for digital advertising solutions.” Impeding growth are high initial investment costs, and technical issues and reliability. The expansion of smart cities and integration with cultural expression are named as opportunities; challenges include increasing competition from digital advertising channels and limited viewing time.

Listen up: Amazon’s Audible has launched what it describes as the world’s biggest augmented reality campaign ever, with DOOH screens worldwide. Using 4k all-weather cameras, cityscapes are transformed into fantastical worlds inspired by Audible Original titles. “Our recently launched global brand campaign exemplifies the transportive power of Audible for our listeners,” said Audible’s James Finn, SVP, Head of Brand and Content Marketing. “This cutting-edge technology is a perfect fit to showcase the different worlds Audible brings to life for our customers around the globe.”

SignBird is collaborating with Formetco Sports and their LED Scoreboard product to help high school and collegiate sports programs maximize their LED Scoreboard advertising potential. SignBird aims to streamline the process of monetizing high school athletic events by offering comprehensive marketing packages tailored to the unique needs of each school, and attract advertisers seeking to connect with passionate sports fans and supporters. “At Formetco Sports, we are dedicated to driving innovation and delivering impactful resources in college and high school athletics,” said Jeremiah Parker, Director of High School Sales at Formetco Sports. “Together, we will empower schools to maximize the potential of their digital LED scoreboards in their community and create engaging advertising opportunities for businesses and sponsors.”

The latest whitepaper from location analytics platform Placer.ai explores the brick-and-mortar potential of Costco’s and Wawa’s new retail media networks. Key takeaways in the report, titled “Advantages of New Players in Retail Media Space,” include:
· Costco’s and Wawa’s brick-and-mortar visit growth positions their stores as ideal platforms for effective retail media engagement. The appeal of the two chains’ physical fleets underscores the value of in-person experiences, offering advertisers unique opportunities to connect with consumers.
· Both Costco and Wawa enjoy higher loyalty rates and longer in-store visit duration than key competitors, enabling advertisers to reach especially engaged and receptive audiences.
· Costco’s visit dominance in the Western US and in other major population centers offers prospective partners access to consumers across a broad range of key markets.
· Wawa’s focused expansion in Miami, diversifying its visitor base, positions the store as a promising new player in the retail media landscape.

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TRANSIT

Intersection landed an exclusive contract with Pace to sell bus and shelter advertising across suburban Chicago. Intersection previously served as Pace’s exclusive advertising contractor from 2008 to 2020. The new contract expands Intersection’s suburban reach, enabling advertisers to reach people both near their office, and closer to home. Pace bus and shelter media offers coverage across North, West, and South suburbs.

StreetMetrics has partnered with Houck Transit Advertising in a deal that calls for Houck to leverage the StreetMetrics platform to provide its transit advertising customers with precise measurement and attribution. “Houck’s mission is to amplify our clients’ advertising campaigns and elevate their brands. By partnering with StreetMetrics, we’re excited to provide our customers with real-time insights into their ad performance, allowing them to optimize their campaigns and achieve even greater success,” said Justin Houck, President, Houck Transit Advertising. “We’re also looking forward to gaining insights on our own assets, which will allow us to guide our clients and provide data-backed recommendations as they launch transit advertising campaigns with us.”

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GOING GLOBAL

JCDecaux Macau has renewed its exclusive advertising contract with Macau International Airport for a 10-year period. The new contract strengthens JCDecaux’s presence in the Guangdong-Hong Kong-Macao Greater Bay Area, home to over 86 million people. JCDecaux Macau has managed the advertising sales concession at Macau International Airport since 2003. Under the new contract, JCDecaux will introduce a program of digitization, deploying innovative technology, creative solutions and airport products to enhance airport services and experiences while generating advertising revenue.

Wildstone unveiled a Concorde-inspired digital billboard in North Bristol’s aerospace, engineering and technology business cluster. The Digital Mega 6-sheet double-sided monopole structure, named Bristol Approach Tower, has a wing-shaped design inspired by the supersonic aircraft that was produced at the former Filton Airfield. Both screens on Bristol Approach Tower DM6 measure 7.5m x 5m, offering viewing angles of 140° and an ultra-slim screen depth of just 65mm. The screens are also highly energy efficient.

Australia’s QMS is extending its recently announced partnership with retail property group Vicinity Centres to include two high profile sites at its Emporium Melbourne location. The Emporium Swanston Street location will be enhanced with a new, higher definition screen that is 75% larger, offering unobstructed viewing. The new Swanston Street landmark digital billboard, expected to be completed by the end of the month, is a 100% full motion and 3DOOH enabled, offering brands the creative capability to utilize existing video assets as well as the ability to add a new dimension in DOOH to their campaigns.

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