Breaking $ Barrier, New Laul Man, CCO, OUT and Overall
OOH Today Weekend Update
OOH surpasses 5% global ad spend, new Talon CEO, Clairvest eyes Clear Channel, Outfront wins WMATA again and more. A weekly recap of the top OOH stories you missed may have, along with colorful commentary from BB for week ending June 8, 2024.
1. Out of Home Breaks 5% Barrier
Global OOH spending reached 41.9 billion last year, surpassing 5% of total ad spend. Though online continues to dominate ad spending, OOH has grown from 4.7% to 5.2%. All major regions showed strong growth in 2023, but APAC rose by 25%. Europe overtook North America for the first time. Latin America and Africa also are showing strong growth. 2024 will be a strong year for OOH with double growth expected due to the Olympics, the Euros football championships, and about half the population going to the polls to elect leaders.
B.B.’s Take: We sure do hope that Godard’s vision is correct. The Industry is long over due for substantive revenue increase. As for the growth to be declared significant, 10% is the target. let’s keep the bar high and focus on the double digit 10%.
2. Clairvest Emerges as Contender for Clear Channel UK
Clairvest, a Toronto-based private equity firm, has expressed serious interest in acquiring Clear Channel Outdoor’s UK and northern European operations.
Clear Channel announced its plans to sell its UK, Nordic, and other European assets last fall, around the time it also announced it was selling its France business to Equinox Industry. In addition, it is conducting a strategic review of its business in Latin America.
B.B.’s Take: Frankly, zzzzzzzzzzzz.
3. Ryan Laul Named New Talon NA CEO
Talon announced last week that Ryan Laul would be its North American CEO. Laul will lead the Talon’s business in North America starting June 23, 2024. He will report to Sue Frogley, Group CEO and also will join Talon’s global board.
A seasoned OOH media executive with a track record of delivering growth and overseeing commercial investment, Laul brings a wealth of OOH and Digital Experience. He spent the last 13 years at Omnicom. Under his leadership at Omnicom, the company executed the largest data-driven OOH campaign, integrated mobile audience data into fundamental planning and buying, developed the largest demand-side resource for DOOH media, and became the first company to ever establish a cinema upfront with the nation’s largest supplier.
B.B.’s Take: As we have said before, Laul is a top guy with years of experience in OOH. If Talon is just getting started Laul will take them to the finish. UK let the horse run and stay out of the way.
4. OUTFRONT Wins Washington, D.C. WMATA
OUTFRONT Media has been awarded a new long-term advertising agreement for the Washington Metropolitan Area Transit Authority (“WMATA”). OUTFRONT has provided advertising services for WMATA for about 10 years. Under the new agreement, OUTFRONT will represent advertising sales for WMATA throughout the DMV (Northern Virginia, Maryland, and D.C.). OUTFRONT will provide advertising services for station and in-car advertising in the Metrorail system as well as interior and exterior signage on the Metrobus system.
B.B.’s Take: Interesting that OUTFRONT is taking on more transit via renewal of WMATA when DC and NYC have been handing them their proverbial lunch.
5. Mural Reveals Secret Message
A recent project by Overall Murals involves a message that only reveals itself when it rains. This campaign for Ore-Ida fries could be seen on an 800-square-foot wallscape at Pike Place Market in Seattle, a city known for its rain.
“Deliciously Predictable” played upon Seattle’s rainy weather by comparing it to Ore-Ida fries’ consistent consistency. The campaign was made even more effective by using a first-of-its-kind innovation – paint that would react to rain. When the mural gets wet, the background color changes to pink, and the message “As Sure As It Rains In Seattle” is revealed.
B.B.’s Take: Nice twist on old school OOH production. Overall Murals claims a first.
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