A recent study from US analysts PQ Media takes a closer look at Catchyoo market (in the US) and it confirm that we are at the right place at the time with the right weapons.
Here it is in a nutshell:
out-of-home advertising (AOOH, Catchyoo's market) 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%.
- Advertising growth: +6% which includes OOH: +10.6% which includes AOOH (our sergment!): +27% (USA)
- Within AOOH: Ambient advertising, also called place-based media (more precisely Catchyoo) increased 14.1% in 2006 to $446.4 million (USA only).
By experiencewe know that North America is 30% of WW market. So those figs are probably true too for Asia-Pac and EMEA.
What is identified as drivers (in comparaison to traditional advertising) ? Analysts answer:
- "The perception among advertisers that these media provide high engagement, targeting options, proximity to point-of-sale, measurable impact and cost effectiveness
- Exposure to and recall of these media growing as Americans spend more time commuting to work, walking in urban areas, waiting in transit hubs, and shopping at retail outlets
- Research suggesting that the vast majority of consumers view alternative out-of-home media as favorable and educational
- New technology enabling companies to launch digital advertising platforms that generate higher revenues than the conventional formats they replace".
PQ Media concluded that, "Americans spend twice as much time outside their homes and workplaces today than they did just a few decades ago… Digital technology and creative positioning enable alternative out-of-home media to stay in tune with today's fragmented and fast-paced consumer market"
We are on the right wagon! ...and we might lead it.