Updated: 04 October 2022 11:38 STI
New Delhi [India], Oct 4 (ANI/PNN): Billboards are booming again, and the outlook for the outdoor advertising industry is improving after being wiped out by the covid19 pandemic. The economic fallout from the crisis has been much harsher on this segment, with billings dwindling considerably. The recovery since then has been substantial, at least on a consistent basis. Revenue for Aug. 22 and Sept. 22 has now recovered up to 150% from last year due to festive spending and business growth seen in the market, ad industry executives said.
As restrictions have been lifted, businesses in cities, as well as interstate travel, have increased. “It has boosted festival season activity and customers returning to markets. This is a good time to reach consumers, potential buyers through outdoor advertising (OOH),” said Shubham Jain, marketing manager at Shubindia Ad Works, an integrated outdoor media agency.
“We started to see good growth in out-of-home advertising starting in August. Holiday season ad spend managed to recover and rebound to 150% of what brands spent last year. “, did he declare. Automotive, smartphone, jewelry, banking, financial services, insurance, telecommunications, e-commerce, video streaming platforms and real estate companies are driving recovery. Spending was particularly strong in markets such as Pune, Mumbai, Alibag and the rest of Maharashtra.
“Whether it’s SBI, JSW, Adani, Tanishq, JioMart, Amazon, Flipkart, or local players in every city, there are multiple outdoor campaigns going on throughout the holiday season. We also saw higher media occupancy in small towns than metros,” Jain said. Shubindia Ad Works and State Bank Of India (SBI) organized the brand’s festive Yono Cash campaign, PBBU festival and Home Loan in Pune. Launched on September 21, the OOH campaign was part of SBI’s 360 degree campaign for festive new offers and lasts for 3 months. It used various OOH media across Pune to maximize impact and reach the target audience, the company said.
Regional brands such as Suhana, Oxycool, Oxyrich, Jaihind, Solitaire, Chitale, Laxminarayan, Cottonking, Raheja Group, Vtp Group, etc. have also started advertising as companies are set to take over the festive activities of Ganpati, Navratri and Diwali. “The road to recovery in OOH has been decent since July and traction is visible in national and regional markets,” said Shubham Jain, Shubindia Ad Works, a full-service advertising agency. “Even at the regional or local market level, outdoor advertising has been actively used by local businesses, especially real estate, education and retail businesses,” he added. Jain said he expects the outdoor advertising industry to grow further in the coming months.
“By this quarter of 2022, with the upcoming holiday season, the new fiscal calendar of global and domestic customers, OOH spending will improve rapidly. I hope marketers will choose OOH support to make advertising and connecting with their target audiences in all regions, which will give them the best return on investment.” he added.
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