Cynopsis Digital Out of Home 05/15/24: DOOH ranks as medium most likely to drive consumers to action; Geopath adds to Board

Cynopsis Digital Out of Home
Wednesday May 15, 2024

Lamar Advertising Company selected Vistar’s content management software, Cortex, to power its network of DOOH billboards across the U.S. Lamar offers advertisers nearly 5,000 displays serving over 5 billion weekly impressions. “Lamar’s nationwide footprint, paired with the sheer size of its digital billboards, allows advertisers to reach consumers with unparalleled creative impact,” said Eric Lamb, SVP, Enterprise Solutions at Vistar Media. “A network of this scale and influence deserves industry-leading technology to support it.” Last year, Lamar chose Vistar to run its Denver Transit DOOH Network.

Speaking of Vistar, the technology solutions company announced the acquisition of traditional OOH planning and buying software, ADstruc, from PJX Media. “We live in a world powered by software, and the OOH media industry is no different,” said Michael Provenzano, CEO & Co-Founder of Vistar Media. “Vistar has had an amazing journey across our programmatic marketplace and enterprise software businesses, but at the same time, our customers consistently remind us that digital OOH – and programmatic within it – is just a portion of the greater OOH landscape. “Our rebrand says it all: Vistar Media is ‘the home of out-of-home.’ To truly embody this, we must substantially contribute to how OOH is traditionally bought and sold.”

Geopath added three new members to its Board of Directors. Newly elected for a three-year term are Josh Scharfberg, CRO at Adams Outdoor Advertising; Jill Rothenhauser, Account Director at Rapport Worldwide; and Eric Lamb, SVP, Supply at Vistar Media. Additionally, three current Board members were appointed to Geopath’s Executive Committee: Alison Broback, Chief Client Officer at ODN; Jill Schnitt, President at Outdoor Media Group; and Gina Stratford, VP of Sales & Marketing at YESCO Outdoor Media.

Seventy-three percent of consumers view DOOH ads favorably, ranking DOOH as the medium that would most drive them to take action, surpassing other forms of ad media, such as television/video (50%), social media (48%), online (37%), audio (32%), and print (31%). That’s according to a poll conducted by The Harris Poll and released by the trade group OAAA. The study also found that 80% of consumers are likely to take action after seeing DOOH ad content they deem entertaining or visually appealing, and 71% reported a likelihood to share DOOH ads that feature their favorite products or brands. “Our findings show DOOH is a highly effective advertising medium that can be both striking and shareable,” said John Gerzema, CEO of The Harris Poll. “DOOH’s ability to drive consumers to take action is apparent, but when DOOH ad concepts are executed well, it can have a second life on social platforms as shareable content.”

TRANSIT

Viewer attentiveness for GSTV, the video network for fuel retailers, exceeds attention benchmarks for digital, CTV, and linear television advertising, according to a study done in collaboration with Lumen Research. The study was conducted in alignment with Dentsu’s Attention Economy initiative, enabling comparisons with norms from the agency’s 5-year attention measurement program. Key findings include:
· 95% of impressions on GSTV deliver eyes-to-screen, commanding more visual attention than digital, CTV, and linear television. Ads on GSTV yield 2.7x the attention of ads on CTV and 2.5x that of linear (vs. Tvision norms).
· Attention per 1000 impressions to ads on GSTV exceeds Dentsu’s online display norms by 5.0x, online video by 2.4x, and social by 2.3x. Despite shorter ad durations, ads on GSTV deliver more attentive viewing time than :30 spots on both CTV (+91% more) and linear TV (+60% more), vs. TVision norms.
· On a cost per 1000 seconds of attention basis, GSTV is 5x more efficient than online display ads, compared to Dentsu’s norms. GSTV is also 3x more efficient than CTV.
· Brand recall following ad exposure on GSTV exceeds Dentsu’s norms for both online video and CTV by more than +50%

“It’s always exciting to conduct world-first research for media owners – especially when the results prove how impactful and effective their media is,” said Mike Follett, Managing Director, Lumen Research.

SUSTAINABILITY

Media Resources announced a new product line, eQVISION Digital Billboards, in response to the need for increased sustainability. The offering consumes less than 50% of the electricity compared to the previous generation VISIONiQ billboards, and extends the display’s lifespan by an extra 20%. The new technology also incorporates optimizations to reduce upward light emission, to mitigate sky glow. The product line will be available in a variety of pixel pitches. “eQVISION is the next step in our OOH ‘inOOHvation’ journey,” said Jeff Rushton, President at COO of Media Resources. “Given the importance for all of us to become more sustainable in our business & personal lives, we are honored and proud to support the direction of the Out-of-Home Industry to get to a carbon neutral future, make products that are more efficient, and while doing this with eQVISION create a product that reduces billboard operating and capital costs along the way.”

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UPCOMING EVENTS
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ON THE MONEY

OUTFRONT Media reported quarterly revenues of $408.5 million, up 3.2% from the year prior. “Strong local trends drove solid first quarter financial results, with total revenue up over 3% and Adjusted OIBDA up 10%” said Jeremy Male, Chairman and Chief Executive Officer of OUTFRONT Media. “It was particularly pleasing to see good growth in transit during the period, and encouragingly this trend has continued into the second quarter.” The company’s Relative Strength Rating from Investor’s Business Daily rose to 83 from 80 last week.

Clear Channel Outdoor reported quarterly revenue of $482 million, up 10.1%. “The trends we saw late last year largely continued into the first quarter, including improving demand among advertisers in all regions and key verticals in our America business segment,” said Scott Wells, CEO of Clear Channel Outdoor Holdings, Inc. “We are positive about the trends we are seeing in our business and remain on track in delivering growth this year.”

Creative Realities, a provider of digital signage and media solutions, reported record first quarter revenue of $12.3 million, up 24% from $9.9 million in the prior-year period. The company has signed a non-binding commitment letter with First Merchants Bank for a $20 million senior secured revolving credit facility with a $5 million accordion feature. “I’m very pleased to announce our intent to refinance the Company’s credit facilities,” said Rick Mills, CEO. “We are focused on de-levering the Company and taking appropriate steps to strengthen the balance sheet and migrate to an optimal capital structure. This new facility will accomplish both – and prepares us for the next stage in CRI’s growth trajectory.”

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ACROSS THE GLOBE

ELAN Media announced the upcoming launch of its DOOH screens at select WOQOD petrol stations across Qatar this month, following an exclusive partnership between ELAN Media and Qatar Fuel. The newly installed DOOH screens will integrate technology including InMotion, an analytics platform that was developed by ELAN Media, Ooredoo and Kido Dynamics to provide advertisers with near-real-time insights into campaign performance.

Screen Network, focused on the Polish DOOH market, is partnering with Broadsign to make Screen Network’s inventory of digital screens available through Broadsign’s supply-side platform. “Programmatic DOOH is an evolving trend that is garnering significant interest,” said Damian Rezner, COO of Screen Network. “Making our inventory available on this model will enable our clients to operate more efficiently and swiftly.”

Billups announced the acquisition of New Zealand-based OOH agency Billie Media. “The Australia and New Zealand Out-of-Home market is a billion-dollar-plus advertising opportunity,” said Benjamin Billups, Co-founder of Billups. “Customer demand has driven our major expansion over the past year, and they trust Billups to have the team and technology in place to deliver ROI. Billie Media’s core local focus on expertise, data and tech will help enhance our promise to advertisers for a solutions-focused, centralized and accountable approach to driving engagement and value through Out-of-Home experiences.” Billups is on a roll – since September 2023, the company has acquired Outsight, TAC Media and OOH Labs.

Broadsign has acquired Netherlands-based digital OOH adtech provider OutMoove. “Our partnership spans years of deep customer connections and strategy discussions, and this transaction with Broadsign will help us take OutMoove to the next level. We’re excited to combine our technology and talents to deliver on the promise of growth through automation for our industry,” said Mendel Looije, Co-Founder and CEO of OutMoove.

Cynopsis Team

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Kerry Smith
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Stephanie Cronk
Senior Marketing Director
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