As technology advances and new advertising mediums emerge, it’s important to take a look at the current trends and predictions for billboard advertising. Billboard advertising has been a staple in the advertising industry for decades. It is proven time and time again to be an effective way to reach a large audience and create brand awareness.
In the words of Bishopp CEO, Brad Bishopp, “As traditional media becomes more and more fragmented and as privacy concerns continue to increase on digital channels the opportunity for advertising is becoming more difficult online. Reaching consumers is going to become more difficult. We [out of home advertisers] have the capability to reach people in demographic markets that no other channel can.”
According to the Outdoor Media Association (OMA), the out of home (OOH) advertising industry has seen steady growth over the past few years. The industry reported a net media revenue of $259.4 million in Q1 2023, showing a growth of 11.8% for the same period last year (OMA, 2023).
Digital Billboards
One of the major trends in billboard advertising is the increased use of digital billboards. According to the OMA, digital OOH accounts for 67.7% of total net media revenue this year-to-date.
Digital billboards offer advertisers more flexibility in terms of creative messaging and the ability to change their ads frequently. They also have the ability to display dynamic content, such as weather updates or real-time traffic reports, making them more engaging for consumers. In fact, digital signs have 63% more impact than classic signs. However, don’t discredit classic signs, as they deliver a higher reach from individual brands because only one client owns the space (OMA, 2022).
Programmatic Digital Out of Home Advertising
Bishopp’s CEO also noted that “The next iteration of where we go is programmatic outdoor. Both single channel and omni-channel.” Programmatic digital out of home advertising (pDOOH) is becoming more popular, as data and targeting, flexible buying options and contextual relevance of environments become driving factors of buying DOOH advertising programatically (IAB, 2022).
Similar technology has been used in other forms of advertising, such as online display ads, for many years. However, it’s now being adopted by the billboard industry, allowing advertisers to target specific audiences, at specific times, and measure the effectiveness of their campaigns. Research by the IAB shows that 83% of agencies have used pHOOD and 48% are regularly considering it.
Future Industry Growth
The out of home industry has a projected annual compound growth of 9% over the next four years (OMA, 2023). Future predictions expect that the industry will continue to see growth in digital billboards and programmatic buying. Additionally, advancements in technology, such as augmented reality and facial recognition, could create new opportunities for advertisers to create more interactive and engaging billboard campaigns.
Billboard advertising continues to be an important part of the advertising mix, with digital billboards and programmatic buying driving growth in the industry. As technology continues to evolve, the industry will need to adapt and embrace new opportunities to stay relevant and effective. By staying up-to-date with the latest trends and innovations, advertisers can continue to leverage the power of out of home advertising to reach and engage their target audiences.
To learn more about Bishopp’s digital billboards and booking availability, reach out to us today on (07) 3552 5600 or via our contact page. You can find information of our full offering of digital billboards here.