Report: Digital out-of-home media revenues
By Adnews Staff
PQ Media of Stamford, CT has released a report on global digital out-of-home media. The study covers digital place-based displays, digital billboards and digital signage in 28 international markets. According to the report, revenues for digital out-of-home advertising increased 11% to US$7.9 billion in 2012. However, the report also notes that this increase declined during the second half of the year due to slowing world economies and advertising markets. The report finds the United States to be the largest market in 2012, with $US2.1 billion in revenues, followed by China at US$1.7 billion and Japan at US$789 million. Russia was the fastest-growing market, increasing 26.9% in 2012, followed by the United Kingdom at 25.7% and India at 20.1%. Transit and healthcare ads were the biggest revenue generators, while retail and cinema growth slowed. The report predicts that digital out-of-home revenues will increase by 12.6% in 2013. "While DOOH operator revenues are pacing for accelerated expansion in 2013, key growth challenges continue to test this industry as it develops amid a slow economic recovery and intense competition for ad budgets," said Patrick Quinn, president of PQ Media. "For DOOH to succeed in the media ecosystem, emerging leaders must drive consolidation, scale, research and efficient processes, while positioning DOOH based on its targeting, flexibility and engagement."