According to the Outdoor Advertising Association of America (OAAA), out of home advertising revenue increased by over 4% in 2010. This translates to over $6.1 billion in revenue.
The industry as a whole has been steadily recovering since late 2009. In the last quarter of 2010, revenue increased by 6.5%, compared to the last quarter of 2009.
In a recent press release, OAAA President & CEO Nancy Fletcher was quoted as saying: “2010 was a positive year for the out of home advertising industry. The industry held strong through the recession and is now in a position to embrace financial stability and new opportunities head on.”
“Your move, BMW.”
That’s the challenge posed by Audi on Apr 2009, featuring its all new Audi A4, on the billboard on the corner of Santa Monica Blvd. and Beverly Glen Blvd in California.
“Checkmate”, declared BMW, on the billboard right next to Audi’s, and featuring the BMW M3 Coupe – a billboard that just happened to be about ten times the size of theirs.
Juggernaut Advertising, an independent advertising agency headquartered in Santa Monica, CA, initiated the tactical outdoor marketing campaign on behalf of BMW of Santa Monica. The ad was positioned prominently within the same sightline to westbound traffic as the Audi ad.
Del Montell, Jr. of Santa Monica BMW was quoted as saying: “When we heard the idea, we loved it and couldn’t resist going forward.”
That’s strategy for you.
Photo Source: bmwblog.com
Clear Channel Outdoor Holdings, Inc. recently reported its 2010 operating results. For the year just ended, the company reported its revenues grew by 4% to $2.8 billion. This represents a $100 million increase over the $2.7 billion reported for 2009, and is a direct result of an improved advertising environment, driven by the strengthening economy.
Mark Mays, CEO of Clear Channel Outdoor, was quoted as saying: “The global business environment improved as the year progressed, with many of our markets seeing increased demand from advertisers.”
More details here: (Full 4th Quarter Release)
Wait! Is that a car on the side of that building?
Or is it a crossover?
Plastered along 42nd St. and the corner of 7th Avenue in Manhattan’s Times Square is an ad for Mini’s new eye candy – the Mini Cooper Countryman, a mini SUV crossover featuring the choice of all wheel or front wheel drive, four doors and 12.2 cubic feet of quirky British style
The Mini Cooper Countryman will draw on a whole new demographic, and with the possibilities for cute nicknames seemingly endless, (Mega Mini, Maxi Mini), Mini’s newest addition eagerly awaits buyers.
Mini Cooper billboard on Times Square
There’s no doubt about it—despite the proliferation of Internet banner advertising, traditional billboard advertising continues to garner attention when it comes to a company’s overall marketing strategy. While banner advertising—the placement of ads about relevant web pages across the internet—is relatively cheap, versatile, and has the potential to reach a targeted and global audience, billboards remain an important marketing means. In 2008, the outdoor advertising industry grossed nearly $7 billion, proving its worth as a viable marketing option.