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

Traditional Out-of-Home Advertising - Chile

Chile

Ad spending in Chile's Traditional Out-of-Home Advertising market is forecasted to hit €77.58m by 2024.
The ad spending is anticipated to demonstrate an annual growth rate (CAGR 2024-2029) of 1.47%, leading to an estimated market volume of €83.44m by 2029.
The average ad spending per capita in Chile's Traditional Out-of-Home Advertising market is projected to be €3.95 in 2024.
Chile's Traditional Out-of-Home Advertising market is witnessing a resurgence, with brands leveraging iconic locations like the Andes Mountains for impactful campaigns.

Key regions: Germany, Europe, Asia, France, China

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Analyst Opinion

The Traditional Out-of-Home Advertising market in Chile has been experiencing significant growth in recent years, driven by changing customer preferences and local special circumstances.

Customer preferences: Customers in Chile have shown a growing interest in traditional out-of-home advertising methods, such as billboards and transit advertising. This preference can be attributed to several factors. Firstly, traditional out-of-home advertising is often seen as a more reliable and trustworthy form of advertising compared to digital platforms, which can be prone to ad fraud and fake news. Additionally, traditional out-of-home advertising allows for greater visibility and reach, as it can target a wide range of audiences in high-traffic areas. Lastly, customers appreciate the creative and eye-catching nature of traditional out-of-home advertising, which can make a lasting impression on viewers.

Trends in the market: One of the key trends in the Traditional Out-of-Home Advertising market in Chile is the increasing use of digital technology. Digital billboards and screens are becoming more prevalent, offering advertisers greater flexibility and the ability to display dynamic and interactive content. This trend is driven by the growing demand for personalized and engaging advertising experiences. Advertisers are also leveraging data and analytics to optimize their campaigns and target specific audiences more effectively. Furthermore, there is a rising trend of integrating traditional out-of-home advertising with mobile and online platforms, allowing for a seamless and integrated customer experience.

Local special circumstances: Chile's unique geography and urban landscape contribute to the growth of the Traditional Out-of-Home Advertising market. The country has a high level of urbanization, with a significant proportion of the population living in densely populated cities. This concentration of people in urban areas creates a captive audience for out-of-home advertising, as they are more likely to encounter billboards and transit ads on a daily basis. Additionally, Chile's strong tourism industry provides opportunities for advertisers to target both domestic and international visitors through out-of-home advertising.

Underlying macroeconomic factors: The growth of the Traditional Out-of-Home Advertising market in Chile is also influenced by underlying macroeconomic factors. Chile has experienced stable economic growth in recent years, which has led to increased consumer spending and business investment. This has created a favorable environment for advertisers to invest in out-of-home advertising as a means of reaching their target audience. Additionally, Chile's political stability and business-friendly environment attract both domestic and international advertisers, further driving the growth of the market. In conclusion, the Traditional Out-of-Home Advertising market in Chile is developing due to changing customer preferences, the adoption of digital technology, local special circumstances, and underlying macroeconomic factors. As customers continue to value the reliability and impact of traditional out-of-home advertising, the market is expected to continue growing in the coming years.

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 Global Survey) 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.