The third webinar of the OAAA series, OOH and the Impact of COVID-19, was held last week, and contained a number of encouraging signs and important data points for the industry.
Among the positive signals and useful updates covered in the webinar:
- MAGNA projects OOH will outperform all other traditional media competitors, despite a forecasted decrease of 17% in 2020
- For 2021, MAGNA forecasts impressive 10% OOH growth, even surpassing digital media growth
- The vast majority of national advertisers plan to ramp up ad spend in Q3 2020, and creativity assumes greater importance
- Local advertiser sentiment about the economy has returned to normal ranges
- Nationwide passenger vehicle travel is now at pre-COVID levels
- Consumer confidence has increased across the US, supporting a geographically broad recovery in consumer spending
- 53% of consumers plan to take a summer vacation, 78% will be undertaking a journey by road, and 62% plan to use their personal car as their primary mode of transportation
- Gas prices are at recent historical lows and the car is overwhelming viewed as the safest form of consumer transportation
- Categories offering unique OOH opportunities include summer travel, political advertising and cannabis-related products
You can access the presentation deck and recording here, and the Consumer Summer Travel Infographic here.
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