In front of a packed house at this morning’s keynote speech for the DOOH Advertising Summit at the Digital Signage Expo in sunny Las Vegas, Patrick Quinn provided some brutal honesty and some devastatingly attractive numbers. In short, digital out of home advertising rose about 15% in 2010, and is forecasted to grow by over 16% for 2011.
These numbers are not only significant for their size, but for their accuracy. PQ Media, which provides metrics for many types of communications, not just DOOH advertising, is notoriously accurate when it comes to their forecasts. They have to be, if they weren’t, he wouldn’t be giving the keynote at a big summit for the biggest DOOH trade show around.
The growth of the industry is driven by a number of growth factors, and certain regions globally are impressing everyone. China and Brazil both topped 40% growth in 2010, and even smaller spending regions like the Middle East and Africa are seeing huge growth as well.
The report, released today, provides a detailed account of the results of past years and the forecasts through 2014. It is immediately a crucial tool for anyone involved in the DOOH industry. Not only is it a boon for network operators, digital signage technology companies, and their respective teams, but it presents a valuable presentation tool for companies that are trying to court investors.
Investors are increasingly looking at DOOH as a huge possibility to increase their wealth. Patrick Quinn pointed out that in the process of maturation for media markets, around five companies will end up with about 90% market share. Since this is far from the case right now in DOOH, the larger networks that are successfully executing growth strategies have a lot to look forward too, while the smaller companies are “shaken out.”
With DOOH being such a bright spot, and convergence with smartphones and other technology helping the cause, all of the audience members at today’s keynote came out impressed, and in nearly complete consensus that the annual Patrick Quinn keynote must continue.
Tony Hymes is the Editor of the Digital Out Of Home industry website DOOH.com. He produces introductory videos of the companies working across the space from digital signage hardware providers to content companies, DOOH networks, consultants, and software groups. Tony Hymes writes extensively about the strategies behind DOOH advertising, digital signage networks and deployments, and customer engagement trends.