OOH Ad Spending Down Nearly 20% in August
OOH Ad Spending Down Nearly 20% YoY in August ’23
With a summer reduction in OOH activity, OOH share of ad spend revenue saw an 18% decline in August YoY.
Traditional media as a whole saw double-digit declines as well (similar to Q1 2023) down 10% YOY in August 2023, with Radio, Magazine, and Newspapers down 23%, 13%, and 38%, respectively.
This is according to the latest numbers from Guideline’s Standard Media Index (SMI) which captures actual agency invoicing data from all major holding companies and most major independents.
SMI accesses actual spend from the world’s largest media buying groups, as well as leading independents, and then organizes that data to create a clear, granular, and easy-to-use database for our clients and agency partners. Depending on the market, SMI captures between 70 and 95% of all agency spend. By aggregating it, SMI offers detailed ad intelligence across all media types, including Television, Digital, Out-of-Home, Print, and Radio. Depending on the market, data can be broken down by unit cost, media owner, ad type, buy type, advertiser product category, and other dimensions.
Clients use SMI data to determine media mix models, create competitive benchmarks, and gain visibility into pricing level data. The data also allow them to understand marketplace trends on a product category level, evaluate ROI of tentpoles and sporting events, and break out ad formats by media type to highlight the effectiveness of different kinds of placements. Our data supports insights covering 34 countries around the world – and that number is growing.