Outdoor advertising is poised to post a record nine per cent of total advertising revenue for 2003. This figure is the medium’s highest recorded share of advertising revenue and will mean the medium has achieved a one per cent growth year on year.
By comparison, television, radio and national newspaper share of advertising revenue is expected to be stagnant.
The official figures from the Advertising Association, which are due to be released later this week, are expected to show that outdoor has increased from an 8.2 per cent share in 2002, to about nine per cent in 2003.
Figures released separately by the Outdoor Advertising Association (OAA) earlier this week, show that for the last two quarters of 2003, the medium attracted 9.3 and 9.66 per cent of total share.
Insiders say that outdoor is a “matter of months” away from achieving its goal of taking ten per cent of advertising revenue. Its share has risen from 7.1 per cent in 1998. Improvement in the accountability of outdoor, a greater choice of premium sites and effective joint marketing by the medium are all factors leading to its growth.
OAA chief executive Alan James says: “Increasing awareness of advertisers and the breadth of the [medium’s] offer have led to positive things for us.” James also points to the fragmentation of TV and to the national press “not pulling its weight” as other reasons for outdoor’s growth.