The entertainment and media sector is on course to see the biggest increase in the use of digital out-of-home (DOOH) advertising over the next year, according to research from AI enterprise SaaS advertising platform Alfi.
The study of senior advertising professionals found that 66% believe that entertainment and media will rapidly increase its use of DOOH in the next 12 months, followed by 62% who point the government campaigns sector, and 61% the retail industry. There’s also significant belief that the finance industry (58%) and telecoms (52%) are set for increased DOOH spending as well.
“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 at Alfi.
However, as a result of the increased investment in DOOH, advertising executives feel that TV and newspapers will see significant amounts of their budgets cut. Around 57% of respondents believe that TV advertising will be hit to fund DOOH, while 53% think the same for newspaper advertising.
Only 21% of executives think that online advertising will suffer because of a shift to DOOH. And, perhaps more interestingly, just 15% believe that traditional OOH budgets will be diverted to DOOH.
“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,” Bordes added.