When Was the Last Time Your Market Experienced a 26% SPIKE In OOH Rates?
A 26% SPIKE In OOH Rates
While OOH Today was working on stories for the Super Bowl, we received a note from AdQuick. They shared very interesting data with regards to out of home/billboard displays located around the stadium in Miami. This is not necessarily breaking news, but it is useful analytics making explicit certain data we have all assumed to be the case. AdQuick shared this days before the game. If this is information AdQuick may be able to reliably and consistently provide, it is worth further investigation on what they are building.
According to AdQuick, “while those clever TV spots tend to get the most attention – data from AdQuick.com (the Out of home advertising technology company backed by Alexis Ohanian) shows that the billboards and OOH ads are also seeing a healthy boom around the big game.” OK, that is not a surprise. What is very helpful for buyer and seller, is to know how much the ‘healthy boom’ actually is before the boom is over. A market overview of rates, not just your rates, when negotiating is powerful knowledge in your pocket.
AdQuick’s “key take-away from analyzing the data, is that the cost for an OOH billboard/OOH ad within a 17 mile radius from this year’s bowl game (Hard Rock Miami Gardens, FL) jumped a healthy 26% (compared to the average of the previous 11 months).”
The displays which were experiencing the price spike were primarily along the main driving arteries from the Miami International Airport to the Hard Rock Stadium. Worth noting the sample size included:
- 852 unique pricing data points
- 54 and unique pieces of media evaluated
- 6 unique media owners