UK events buoy European DOOH market in 2012
Europe was the fastest growing region for digital out-of-home media (DOOH) revenues in 2012, according to research body PQ Media.
Revenues climbed 15.9% in a surge largely attributed to advertising surrounding London events: the 2012 Olympics and the Queen's Jubilee.
The increase is reported against the backdrop of significant slumps in the second half of a year that saw global DOOH revenues increase 11.4% to $7.88 billion (€6.09 billion).
"While DOOH operator revenues are pacing for accelerated expansion in 2013, key growth challenges continue to test this industry as it develops amid a slow economic recovery and intense competition for ad budgets," said Patrick Quinn, president and publisher of PQ Media.
"For DOOH to succeed in the media ecosystem, emerging leaders must drive consolidation, scale, research and efficient processes, while positioning DOOH based on its targeting, flexibility and engagement."
Strong revenue gains in the transit and healthcare categories were tempered by slower growth in the retail and cinema venues, although cinema posted double-digit increases in Asian markets, such as China.
Russia was the fastest-growing DOOH market in 2012, rising 26.9%, while two other markets exceeded 20% growth in 2012 - the UK (25.7%) and India (20.1%).
PQ Media expects global DOOH revenues to grow at 12.6% in 2013, as global economies stabilise later in the year and DOOH operators move forward with expansion plans delayed in the second half of 2012.