A Digital Decadence?
The future of out-of-home (OOH) media, such as billboards, Retail ads, Airport Advertising and other OOH Media categories, may hold promise in light of the uncertainties surrounding digital advertising. As digital ad spending faces murkiness due to issues like privacy concerns and economic uncertainties, OOH media could be the answer to a lot of advertisers.
In an article published in September of 2023 on the Future of Advertising in the Economist, a few important messages have emerged:
- Digital advertising, once heralded for its precision, now faces uncertainties.
- Digital ads comprise 52% of US ad spend, surpassing TV at 33%.
- Questions surround the link between ad spend and economic growth.
- The pandemic shifted ad preferences toward digital, but its longevity is uncertain, with potential economic factors re-emerging.Privacy concerns are evident as only 20% of app users opt for tracking post-Apple’s privacy measures.
- Consumers embrace privacy!Tech giants conceal details about advertisers’ origins and spending patterns, making it challenging to decipher the market’s dynamics.
- Despite their precision promise, digital advertising platforms withhold information, prompting a reassessment of industry optimism.
Unlike digital ads, OOH ads are immune to ad blockers and privacy regulations, which have posed challenges to digital advertising. This makes them a reliable avenue for advertisers to connect with audiences.