Core is forecasting that the value of out of home (OOH) advertising spend in the Republic in 2020 will amount to €94.4 million, an increase of 4.1 per cent on last year’s €90.7m total. The company’s Outlook industry analysis report says digital OOH continues to drive demand and accounted for about 26 per cent of the medium’s investment, with a spend of €23.6m.
The Outlook report was compiled before the current Covid-19 coronavirus crisis.
As well as the significant one-off spend behind the Free Now rebrand from MyTaxi last summer, the growth categories included retail, food and telcos. The Public Health (Alcohol) Bill restricts what OOH formats the alcohol category can use. The law came into effect last November and Core says its impact will result in slowing down OOH spend this year.
Core expects to see more of the alcohol OOH budgets move into digital path-to-purchase formats this year. Digital will continue to grow and its share will increase to 30 per cent with a spend of about €28.3m. In Northern Ireland, the OOH market fell by 2.5 per cent to £16.7m (€19m), partly due to a drop in spend by telcos and energy advertisers.
As in the Republic, the North’s digital OOH market performed well, accounting for 28 per cent of total spend. Core expects the OOH market north of the border to return to growth this year, albeit at a slower rate than the latest UK forecasts of 3.2 per cent. Total out of home revenue is predicted to grow to £17m (€19.3m), an increase of 1.5 per cent.
As in the Republic, DOOH share in the North will be about 30 per cent of OOH spend in 2020.
To read the full Core Outlook report, click on…
https://onecore.ie/wp-content/uploads/2020/03/Core-Outlook-20.pdf
