After a strong performance in 2023, the Philippine out-of-home (OOH) advertising industry is expecting an increase in ad spending in 2024.
Out-of-home Advertising Association of the Philippines (OHAAP) Chairman Daryl Abueva is optimistic that the industry will see more ad placements as the economy bounces back from the pandemic.
“The placement compared to 2022 is significantly doubled because the ad mix of advertising is very much alive. Billboard has always been there. Now, we have 3D billboards,” Abueva said.
The industry is looking into investing in more 3D billboards as it is seen as a new trend in advertising.
While Abueva admits that placements in 3D billboards require an extra cost compared to traditional and LED billboards, there is now a growing demand in the local scene.
A five-second spot starts at P5 million, according to Abueva, as suppliers are still limited in the Philippines not to mention the huge investment the immersive technology requires.
“LED is technology-based. Lahat ng bago, lahat ng new tech, pagpasok niyan, the cost is really insurmountable. When you place an ad sa 3D, it’s really expensive but effective,” Abueva said.
OHAAP is also seeing an increase in demand for static ads such as billboards, bus ads, and banners which are the more budget-friendly options for advertisers.
A billboard placement per month costs as low as P30,000 to P2 million if placed along EDSA.
Abueva noted that the bulk of ad applications the Ad Standards Council has been receiving are for over-the-counter drugs, and cosmetic brands, particularly for glutathione products, telecommunications, and beverages.
Aside from commercial products, the industry expects political ads to start coming in by yearend.
“The supply is always there but we’re preparing for midterm elections. Billboards is always there to accept political ads,” Abueva said.
During the OHAAP’s Induction of Officers on Tuesday, Senator Imee Marcos called for the amendment of the Fair Elections Act to include static and LED billboards as outlets for election propaganda.
