Why The Cost of Billboard Is Unjustifiable
The cost of Billboards.
Sometimes, it is difficult to determine the correlation between the cost of a billboard and the subsequent shift in demand.
COVID-19 and the consequences for the OOH Industry
As the economic impact of COVID-19 continues to unfold, brands and agencies need to re-image their advertising methods. The out-of-home (OOH) advertising players will need to rethink their strategies before the damage deteriorates to them bleeding clients too. According to a survey conducted by the Interactive Advertising Bureau (IAB) it is believed that traditional out-of-home advertising is expected to suffer (Forbes) an estimated ad spend decline of 51% for March and April and a decline of 41% for May and June.
The 2020 Ad Forecast released by MAGNA, a company which provides strategic investment and media intelligence it is expected that total linear ads (National and Local TV, Radio, Print, and OOH) sales will decline by -12%. OOH, and print media are expected to take a hit of -12% and -25% respectively.