Stamford, Conn. (PRWEB) April 30, 2007 -- Alternative out-of-home media spending surged 27.0% to $1.69 billion in 2006 and is projected to grow at an accelerated 27.7% rate in 2007, as brand marketers seek more effective ways to engage mobile consumers during their daily routines. These are the findings of the first in-depth analysis of this burgeoning media segment released today by PQ Media, the leading provider of alternative media econometrics (http://www.pqmedia.com).
Alternative out-of-home advertising is one of the fastest-growing segments of the media industry, expanding at double-digit rates every year from 2001 to 2006 and posting compound annual growth of 22.6%, according to the PQ Media Alternative Out-of-Home Media Forecast 2007-2011. Alternative out-of-home media are distinguished by the use of innovative technology and concepts, such as video advertising networks and digital billboards, to connect with more elusive consumers in captive environments, including retail, transit, cinema and office locations.
“Alternative-out-of- home media is being electrified by what could be dubbed a perfect storm,” said Patrick Quinn, President and CEO of PQ Media. “Ironically, the trends impeding traditional media – consumer fragmentation and control, advertising accountability and the emergence of digital technology – are the very catalysts stimulating the tremendous growth in alternative out-of-home advertising. Unlike its mass media peers, alternative out-of-home advertising is impervious to channel or web surfing and is immune to audience fragmentation.”
The growth of alternative out-of-home media far outpaced that of the overall advertising industry as well as the total out-of-home media sector, which was one of the fastest-growing advertising sectors in the 2001-2006 period. The overall advertising industry expanded 6.4% in 2006, while total out-of-home advertising increased 10.6%, amplified by the 27.0% growth in alternative out-of-home media, according to the report.
Among the key trends PQ Media cites as driving the rapid expansion of alternative out-of-home media are: 1) the perception among advertisers that these media provide high engagement, targeting options, proximity to point-of-sale, measurable impact and cost effectiveness; 2) data indicating that exposure to and recall of these media is growing as Americans spend more time commuting to work, walking in urban areas, waiting in transit hubs, and shopping at retail outlets; 3) Research suggesting that the vast majority of consumers view alternative out-of-home media as favorable and educational; and 4) new technology enabling companies to launch digital advertising platforms that generate higher revenues than the conventional formats they replace.
“Digital technology and creative positioning enable alternative out-of-home media to stay in tune with today’s fragmented and fast-paced consumer market,” Quinn said. “Americans spend twice as much time outside their homes and workplaces today than they did just a few decades ago. As a result, the ability to reach target audiences in attentive venues through non-intrusive media has become very important.”
Spending growth in each of the three subsegments of alternative out-of-home media – video advertising networks & screens, digital billboards & displays, and ambient advertising – accelerated in 2006 with even faster double-digit upside projected in 2007, PQ Media found.
Video advertising networks is the largest subsegment, accounting for 60% of total spending, led by companies like National CineMedia, Premiere Retail Networks and Captivate Network. Spending on video advertising networks & screens grew 28.0% in 2006 to $1.01 billion, with high double-digit growth in all four markets – in-theater, in-office, in-store and in-transit, according to the PQ Media Alternative Out-of-Home Media Forecast 2007-2011.
Digital billboards & displays is the fastest-growing subsegment, as spending soared 55.4% in 2006 to $233.2 million, PQ Media found. Each of the four markets – at-road, at-retail, at-transit and at-events – expanded at accelerated rates, fueled by companies such as Lamar Advertising, Clear Channel Outdoor, and Reactrix Systems.
Ambient advertising, also called place-based media, increased 14.1% in 2006 to $446.4 million, according to the PQ Media Alternative Out-of-Home Media Forecast 2007-2011. The double-digit growth in alternative ambient advertising was driven by leaders like Floor Graphics, Montage Billboards, and Alloy Media + Marketing.
Methodology
While the AOOH media sector is growing at a high-speed rate, the industry has not been clearly defined and there has been a dearth of reliable data, analytics and forecasts tracking its direction. To address this challenge, PQ Media applied its proprietary econometric methodology, which employs data collection and algorithmic methods synthesized with analytic approaches to determine geometric models for media spending, usage and forecasts. The Medianomics™ methodology is powered by PQ Media’s SpendTrak™ and UsageTrak™ databases, as well as its Global Opinion Leader Panel™, and has consistently predicted key trends, insights and outcomes that have influenced strategic plans, investment parameters and tactical approaches. As part of this process, PQ Media researched, surveyed and/or consulted with more than 1,000 out-of-home media and related companies. PQ Media also examined thousands of public and private documents from more than 1,000 sources. Detailed in the report is a universe of more than 300 leading alternative out-of-home media companies, with profiles of over 40 of the industry’s top performers.
About PQ Media
PQ Media, the leading provider of alternative media econometrics, is an independent and forward-looking research consultancy providing media companies, brand marketers, media agencies and financial institutions with unbiased strategic intelligence that empowers them to make high-stakes investment decisions. PQ Media is located at Two Stamford Landing, Suite 100, Stamford, CT 06902 and can be reached by phone: 203-921-0368; fax: 203-921-0367; or website: http://www.pqmedia.com.
Media Contact:
Wendy Marx
203-445-2850
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