We’ve seen the future and it's digital.
Digital screen advertising revenues are forecast to soar to a record high of £53 million next year as a result of CBS Outdoor transforming London Underground advertising.
That’s the prediction from the Outdoor Advertising Association.
Spend on digital out-of-home media is expected to increase by 84 per cent over the coming year of which 40 per cent will be accounted for by the digital inventory of CBS Outdoor (formerly Viacom Outdoor) across UK’s buses, the London Underground and other rail networks.
As the full portfolio of CBS Outdoor’s digital innovations are rolled out in 2007, its share of spend is set to increase to 65 per cent of total digital outdoor revenue.
In December, Virgin Atlantic, Magners, Pioneer, 20th Century Fox Home Entertainment and GuestInvest were named as the launch advertisers for the first phase of CBS Outdoor’s digital Tube transformation, as Digital Escalator Panels (D-EPs) were installed at Paddington and Charing Cross in addition to Tottenham Court Road station.
The new energy efficient illuminated 12-sheet product has sold out until March and CBS Outdoor will soon be seeking preferred partners for the eagerly awaited launch of XTP (cross track projection).
Managing Director of CBS Outdoor, Tim Bleakley, said, “Revenue growth in outdoor advertising has grown consistently while other media have suffered in the face of fragmenting media and changing lifestyles.
“We are already seeing strong signs that the digital transformation of the Tube and innovations on Bus will have a profound effect upon the capital’s media as advertisers shift more budget into reaching and engaging with the increasingly mobile consumer.”
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