Clear Channel Outdoor is on the digital expansion train, with plans to add at least 120 new digital billboards to its portfolio of 472 digital boards in 33 of its biggest markets, and plans to introduce full-motion digital screens in bus shelters – beginning in San Francisco and Washington, D.C. – later in 2010.
The expansion is already underway, with a digital board going up in San Francisco at the base of the Oakland side of the Bay Bridge; in Dallas, where two boards are now being added to the current 11; and digital video screens being added in airports. CCO also recently launched the Total Out of Home Network in Chicago, featuring real-time traffic on some digital screens from CC Radio (and sponsored by the Illinois Lottery).
A recent Clear Channel analysis of data from several research firms found that although people spend 27% of their time out of home, the medium still only commands about 5% of ad budgets. However, DOOH expenditures worldwide are expected to grow 4.7% to $6.69 billion, according to the third annual PQ Media Global Digital Out-of-Home Media Forecast 2009-2014. PQ Media forecast that digital OOH will grow at a compound annual rate of 9.4% in the U.S. through 2014 and 10.1% worldwide over the next five years.