12/20/23: Cynopsis Digital Out of Home

Cynopsis Digital Out of Home

 

Wednesday December 20, 2023

How will DOOH evolve in 2024? Cynopsis asked industry experts to weigh in on the future of the fast-growing, ever-more-engaging advertising format.

In 2024, we will be stepping on the gas to go faster and further on the digitization of Out of Home Advertising. Programmatic will drive more digital budgets to DOOH as all parts of the ecosystem are realizing the addressable impact leading to a rise in cost per thousands. We will see more innovative use of DOOH as creative leaders see a new wonderful canvas to “paint on.” This will include more clever use of anamorphic 3D, QR codes, augmented reality and DOOH that generates incredible social media amplification. More safe use of first party data especially within in-store retail media will showcase powerful advertising on and at the path of purchase. Video budgets will increasingly utilize DOOH along with CTV to make up for dwindling rating points and attention with other media. 2024 will be an incredible growth year for all OOH and DOOH, surpassing pre-Covid numbers and excitement! – Barry Frey, President/CEO of DPAA

As we approach 2024, DOOH advertising is poised for significant evolution driven by advancements in technology especially in areas such as AI, Machine Learning, and Augmented Reality, which will foster more interactive and personalized ad experiences. In addition, more robust measurement and analytics capabilities will provide deeper insights into campaign effectiveness, allowing for continuous optimization.

The potential integration of DOOH with household advertising platforms is particularly intriguing, as it could extend the reach of advertising from public spaces into homes, thereby forming a more interconnected, omnichannel advertising ecosystem that delivers cohesive messaging across diverse platforms. – Jon Schulz, CMO, Viant

Out-of-home (OOH) media is ripe for explosive growth. Right now, just one-third of the market is digitally enabled, and as they come online, they have a unique opportunity to grow into the next great mass awareness medium. I predict healthy growth for OOH in 2024, with nearly half of OOH spend in the next two years being digital. – David Cohen, CEO, The Interactive Advertising Bureau

As DOOH screens are increasingly integrated into omnichannel campaigns, they are also becoming incorporated into retail media strategies — a trend I expect will accelerate in 2024. CPG marketers are constantly thinking about new ways to help their products stand out in the retail environment. Messaging shoppers on their way into the grocery store via place-based DOOH screens can be an impactful way to remind audiences about your product and can increase the efficacy of other shopper marketing and retail media tactics. – Brandt Hastings, President & CEO, Volta

“This growth in DOOH isn’t just a trend; it’s a transformative movement.”

As the digital landscape evolves, capturing audience attention is becoming increasingly challenging. In this context, In Real Life (IRL) experiences and Digital Out-of-Home advertising are poised to play a pivotal role in 2024.These mediums offer a tangible, immersive way to engage with consumers, standing out in a sea of digital noise. As a content creator, I see this shift not just as a pathway to forge stronger connections with audiences, but also as a significant opportunity for monetization. The integration of emerging technologies like augmented reality in DOOH campaigns, for instance, has already shown promising engagement metrics. This growth in DOOH isn’t just a trend; it’s a transformative movement, offering diverse revenue streams for creators across industries. My hope is that this expansion continues, benefiting all stakeholders in the creative ecosystem. – Shira Lazar, Founder of What’s Trending

“There is no doubt that we’ll see new and unexpected touchpoints designed to drive awareness and connect with the modern consumer.”

DOOH continues to emerge as an in-demand medium for marketers with projected double-digit growth over the next few years. In 2024, we’ll see digital-out-of-home evolve in exciting ways.

Technology is seeping into brick-and-mortar environments with increased incentives to find new ways to connect with consumers and monetize IRL. Whether it be on screens in hotels, in golf carts, throughout the ride-share experience or the remodeling of retail locations built around ads, there is no doubt that we’ll see new and unexpected touchpoints designed to drive awareness and connect with the modern consumer. Increasingly, DOOH is making it easier to incorporate new types of data and integrate across channels. With 2024 projected to be the year that cookies finally fade away, we expect even more advertiser testing and adoption in digital out of home. – Mike Wolk, Senior Director of Business Development, Goodway Group

“It’s a no lose proposition for political marketers.”

Cynopsis CTV Connect

NEW NOW

Are you ready for a brand-new event, hosted by Cynopsis, AdExchanger, Chief Marketer and AdMonsters? Then be sure to register early for CTV Connect, a first-of-its-kind summit taking place March 13-14, 2024. Purchase your pass early!

I’LL BE THERE

It’s going to be a huge year for OOH if for nothing else but the 2024 election cycle. Why? OOH is hyperlocal, which allows campaigns to hyper-target voters and messaging. OOH is also highly complementary to ads running on other channels, making it an easy choice to continue engaging voters. And finally, the traditionally used inventory for political campaigns TV is going to be prohibitively expensive and scarce/sold out in some markets especially battleground states or districts making OOH the best bet for high impact, local A18+ reach. With OOH’s advancement in targeting and measurement, you’ll even be able to see the results. It’s a no lose proposition for political marketers. – Craig Benner, CEO and Founder, Accretive

2024 will be a big year for Programmatic Digital Out of Home (pDOOH). With DOOH expected to break the $3 billion threshold in the US according to eMarketer, the proliferation of DOOH options will mean that more advertisers will turn to programmatic means to reach their target audiences and manage their increasingly complex campaigns. – Jason Kuperman, Chief Product Experience Officer, OUTFRONT

Who cares about cookie deprecation when the web’s audience is evaporating? Google, Meta, and X Corp. are significantly reducing their propensity to sending traffic to the web. Additionally, AI services are eliminating the need for many consumers to navigate out of the respective platforms once they get input to queries. 2024 will see marketers diversifying and buying across CTV, in app, DOOH, and more. This is exactly where the large scale remains, and where brands and advertisers can find their target audience. Ken Harlan, Founder and CEO, MobileFuse

As CTV ad capabilities continue to improve and evolve, digital screens get more dynamic, and retail media ecosystems explode, it will be critical for advertisers to shift their ad campaigns beyond the living room. Targeted multi-screen experiences will be key in 2024 to reaching consumers with messages that move with the medium. Expect retailers to get smarter with their in-store screens, and expect brands to start to bring their CTV campaigns out of the home, onto mobile and into retail and other out-of-home locations in 2024. Cathy Oh, Head of Marketing, Samsung Electronics America

Cynopsis’ Digital Out of Home Newsletter

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CONTACT ALBERT NASSOUR

KUDOS

OOH is on a roll. According to The Myers Report 2023 Survey of Media Agency Decision-Makers and Influencers, among the nine media categories included, OOH generated the most positive overall performance ratings with 55% (eight percentage points ahead of second-place Audio, at 47%). The report also ranked the top 50 Media Sales Organizations, with two OOH companies among the top 5. Following Google (66% ranking it as a best-in-class or preferred partner), were OUTFRONT and Vistar (both at 64%).

COMING UP

DPAA announced its 2024 CES Curated Experience, including private fireside chats with brands and agencies, an Out of Home industry members opening dinner, a VIP floor tour that focuses on technologies that impact DOOH, and networking opportunities. CES 2024 takes place January 9-12 in Las Vegas.

The Out of Home Association of America is holding its 2024 OOH Media Conference from April 24-May 1 in Carlsbad, CA. The theme: “Our Moment.” Programming “will underscore the importance of unity among advertisers, agencies, and media owners – advocating for a collaborative approach to overcome industry challenges and propel a shared vision for the future of OOH.”

The 2024 IAB Annual Leadership Meeting is taking place January 28-30 in Marco Island, FL. Hot topics include opportunities in generative AI, responsible media, commerce, and the evolution of streaming.

Cynopsis Team

Lynn Leahey
Editorial Director
@Lynn_Leahey

Kerry Smith
Division President
Access Intelligence

Robbie Caploe
VP/Group Publisher
@robertacaploe

Executive Director of Sales
Albert Nassour
917-545-3129
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Rob Hudgins

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