Market Insights Advertising & Media Advertising Out-of-Home Advertising

Traditional Out-of-Home Advertising - Philippines

Philippines

Ad spending in the Traditional Out-of-Home Advertising market in the Philippines is forecasted to hit US$186.00m in 2024.
The sector is anticipated to demonstrate an annual growth rate (CAGR 2024-2029) of 0.32%, leading to an estimated market volume of US$189.00m by 2029.
The average ad spending per capita in the Traditional Out-of-Home Advertising market is expected to be US$1.56 in 2024.
Traditional Out-of-Home Advertising in the Philippines is experiencing a resurgence due to its high visibility and engagement with the local population.

Key regions: France, United Kingdom, Asia, China, Germany

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Analyst Opinion

The Traditional Out-of-Home Advertising market in Philippines is experiencing significant growth and development.

Customer preferences: In the Philippines, customers have shown a strong preference for traditional out-of-home advertising methods. This can be attributed to several factors, including the widespread use of public transportation and the high population density in urban areas. Traditional billboards and signage are highly visible and can reach a large number of people, making them an effective advertising medium for businesses targeting a wide audience.

Trends in the market: One of the key trends in the Traditional Out-of-Home Advertising market in Philippines is the increasing use of digital technology. Digital billboards and interactive displays are becoming more common, offering advertisers a dynamic and engaging way to capture the attention of consumers. This trend is driven by advancements in technology and the desire to stand out in a crowded advertising landscape. Another trend in the market is the focus on targeted advertising. Advertisers are increasingly using data and analytics to identify specific demographics and tailor their messaging accordingly. This allows them to maximize the impact of their advertising campaigns and ensure that they are reaching the right audience.

Local special circumstances: The unique geography and infrastructure of the Philippines contribute to the development of the Traditional Out-of-Home Advertising market. With over 7,000 islands and a large population, reaching consumers through traditional media channels can be challenging. However, out-of-home advertising offers a solution by providing a physical presence that can be seen by a wide range of people.

Underlying macroeconomic factors: The growing economy of the Philippines is also driving the development of the Traditional Out-of-Home Advertising market. As the country continues to experience economic growth, businesses are looking for effective ways to promote their products and services. Out-of-home advertising provides a cost-effective and impactful way to reach a large audience, making it an attractive option for businesses of all sizes. In conclusion, the Traditional Out-of-Home Advertising market in Philippines is experiencing growth and development due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. As technology continues to advance and businesses seek innovative ways to reach consumers, the market is expected to continue to evolve and expand.

Methodology

Data coverage:

Data encompasses enterprises (B2B). Figures are based on traditional out-of-home advertising spending and exclude agency commissions, rebates, production costs, and taxes. The market covers offline out-of-home advertisements such as billboards, street furniture, transit and transport displays, and place-based media.

Modeling approach:

Market size is determined by a combined top-down and bottom-up approach. We use annual financial reports of the market-leading companies and industry associations, third-party reports, and survey results from our primary research (e.g., Consumer Insights) to analyze the markets. To estimate the market size for each country individually, we use relevant key market indicators and data from country-specific industry associations, such as GDP, population, urban population, and internet infrastructure.

Forecasts:

We use a variety of forecasting techniques, depending on the behavior of the market. For instance, the S-curve function is well suited to forecast digital products due to the non-linear growth of technology adoption, whereas exponential trend smoothing (ETS) is more suited for projecting steady growth in traditional advertising markets.

Additional notes:

Data is modeled using current exchange rates. The impacts of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice per year in case market dynamics change.