New research from Alfi, an AI enterprise SaaS advertising platform, shows the entertainment and media sector will see the biggest increase in the use of Digital Out of Home (DOOH) advertising over the next 12 months.
The global study among senior executives including CEOs, found 66 percent believe entertainment and media will see rapid increases in the use of DOOH followed by 62 percent who point to the Government campaigns sector and 61 percent who highlight the retail industry.
The executives questioned in the UK, US, France, Germany, Canada, Australia, and the UAE believe the finance industry will also increasingly use DOOH advertising with 58 percent predicting it will see the biggest rise in DOOH use followed by 52 percent who pinpointed telecoms.
The switch to DOOH will however mean budgets being moved away from other areas of advertising with television and newspapers expected to be the hardest hit. Around 57 percent of executives believe TV advertising budgets will be reduced to fund DOOH and 53 percent say newspaper advertising spend will suffer because of this.
Just 15 percent of executives questioned believe Out of Home (OOH) budgets will be diverted to DOOH and only 21 percent believe online advertising will suffer as a result of the switch to DOOH.
“Entertainment and media is ideally suited to DOOH as advertisers can make full use of the technology to provide additional content and the same applies to Government campaigns and the retail sector,” said Peter Bordes, interim CEO, Alfi.
“Advertising budgets are increasing but the rise of DOOH does mean other areas will potentially suffer as money is moved to where advertising can be more effectively measured and analysed.”
The table below shows the views of advertising executives on the sectors which are likely to see the biggest increases in the use of DOOH over the next 12 months.
SECTOR HOW MANY BELIEVE IT WILL SEE THE BIGGEST INCREASE IN DOOH USE OVER THE NEXT 12 MONTHS
Entertainment and media 66 percent
Government campaigns 62 percent
Retail 61 percent
Finance 58 percent
Telecoms 52 percent
Food 39 percent
Health & Beauty 39 percent
Drinks/beverage 38 percent
Motor 35 percent
Fashion 33 percent
Travel 18 percent
