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Clear Channel Outdoor Study: ‘Digital Asset Wastage’ In Out-of-Home Represents A Lost Opportunity For Advertisers Valued At $2.3 Billion A Year

Stocks in this article: CCO

Digital out-of-home campaigns that fail to utilize the unique features offered by the medium represent a lost opportunity to the global advertising sector valued at up to $2.3 billion a year, according to a newly released study from Clear Channel Outdoor (NYSE: CCO). Clear Channel Outdoor, a leader in digital out-of-home, operates some 4,700 digital screens in 18 global markets, including in the U.S. 49 of the top 50 designated market areas. The company is warning that 3 out of 4 campaigns run on digital screens are not using digital features and capabilities to their full potential, with advertisers losing billions in potential revenue as a result.

Clear Channel Outdoor sampled activity across its global network of digital screens, calculating that just 1 in 4 campaigns were maximizing the benefits offered by digital technology. With the worldwide digital out-of-home sector valued by Kinetic at $3 billion*, this equates to $2.3 billion worth of ‘digital asset wastage.’

The issue of digital asset wastage is just one topic of CCO’s ScreenPlay study, which identifies the unique features and benefits of digital panels to advertisers and brands. The study includes research with consumers in shopping mall and rail station environments, including over 1000 shoppers and rail commuters in four French malls and in Belgium’s Brussels Centraal rail station. CCO found that consumers have very high expectations of digital out-of-home, but brands are failing to make the most of the unique opportunities for creative richness, relevance, immediacy and engagement that digital screens offer over static panels.

The ScreenPlay study found that by a clear majority, digital out of home advertising is considered modern (79%) and innovative (69%), appealing (67%) and entertaining (63%), and as standing out from other forms of outdoor advertising (70%).

The research also identifies five ways in which digital creative content can unlock the full and unique potential of digital out-of-home advertising. CCO has found that the most powerful digital ads:

   

1)

 

Play with people and spaces

2)

Use movement

3)

Tailor executions or messages to reflect relevant consumer needs

4)

Deliver real-time information and live messages

5)

Build strong brand narratives

The study found that brands which successfully incorporate one or more of these features into their digital campaigns connect more powerfully with people, build a stronger brand identity and ultimately have greater impact.

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