Melbourne’s newest shopping centre, the $1.2bn Emporium, will have Australia’s biggest external digital sign and more than 30 digital advertising panels, but absolutely no print advertising.
Australia’s largest retail advertising media company, oOh! Media, has won the exclusive media rights contract to provide the digital advertising, a number of which will be capable of full mobile interactivity; plus Wi-Fi connectivity and other digital and experiential technologies; and a 347sqm external digital screen on two sides of the complex’s exterior.
Both centre owners Colonial First State and oOh! Media have confirmed there will be no print advertising around the flagship development, which opens April 16, meaning the only opportunity it will bring for printers is point-of-sale advertising for individual tenants.
oOh! Media chief executive Brendan Cook says digital is most likely to displace print advertising in quality sensitive environments such as shopping centres like Emporium and airports, where his company recently installed 24 new digital signs at Sydney airport, as there is more competition for eyeballs and customers have more time to look.
Digital advertising can be targeted towards groups of customers and changed throughout the day, such as cereal ads in the morning and alcohol after children would have left the area, and to switch up campaigns quickly.
He says: "We will be able to raise-the-bar on shoppers’ retail advertising experience during their visit to the Emporium – from the huge external digital sites that entice traffic into the centre, to reactive digital panels and experiential opportunities inside the centre.”
When asked about the decision to make the shopping centre digital-only, a spokesperson for Emporium said: "The retained heritage listed façade, quality finishes, signage, and other international materials creates a junction where old meets new and delivers a world class shopping experience unique to the Australian market."
Outdoor Media Association figures show revenue from digital out-of-home (OOH) advertising is up almost $18m in the past year, accounting for 11.3 per cent of the industry’s 2013 $543.8m total revenue from 7.5 per cent of $507.7m in 2012.
[Related: Outdoor growth]
Cook says that, while increased use of digital billboards and advertising screens will mean fewer contracts to go around, those with established clients will see dramatically more work for at least the next five years.
He adds that, although less than 10 years ago, the average length of a campaign was 12 months, it is now at four weeks and will continue to become shorter as advertisers want to adapt and change with a fast paced world.
He says, “This means more work for printers, but with faster turnarounds and higher volumes. That may outstrip the capacity of many small printers.
“I don’t doubt consolidation is necessary because of the need for high speed and capacity.”
OMA chief executive Charmaine Moldrich predicts digital advertising will have a 25 per cent share within five years, but does not foresee a world without printed signs in the near future.
She says, “The growth of digital just makes sense and advertisers are asking for it.”
“But while a lot of indoor advertising is moving to digital, most signage is outdoor and is protected by cost concerns and regulation.”
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