Outdoor Advertising Breaks Revenue Record In Q3
Outdoor advertising seems to have been the undisputed winner in the marketing race during the London Olympics and Paralympics, registering 25% growth in the third quarter of 2012, according to data from the Outdoor Media Centre.
The trade body revealed that spending on outdoor advertising broke records, reaching £268.9 million between 1 July and 30 September. Compared to the previous record from the last three months of 2006, revenues generated increased by £12 million, Campaign Live reported.
Growth in the sector has been largely fuelled by activity directly or indirectly related to the London 2012 Games. Brands that were official sponsors such as Adidas, Panasonic, McDonald’s, Visa and Heineken, as well as non-sponsors like Nike, were among the biggest spenders on outdoor advertising.
More specifically, digital outdoor advertising saw the biggest increase, with growth of nearly 70%, compared to the same period last year, which now accounts for roughly one fifth of all outdoor revenues.
Commenting on the findings, Mike Baker, chief executive of the Outdoor Media Centre, described the third quarter of the year as “exceptional”. The creativity of the whole industry was concentrated at the Games and this created a remarkable, colourful canvas in London, he said.
Experts expect slower growth in outdoor advertising activity over the last three months of the year, Campaign Live noted.