Out-of-Home Advertising - Serbia | Statista Market Forecast

Out-of-Home Advertising market in Serbia is expected to see ad spending reach US$37.84m by 2024.
The largest market in the country is Traditional Out-of-Home Advertising, with a market volume of US$23.52m in 2024.
When compared globally, United States is set to lead in ad spending with US$9.34bn in 2024.
The average ad spending per capita in the Out-of-Home Advertising market is projected to be US$5.33 in 2024.
Serbia's Out-of-Home Advertising market is seeing a shift towards digital platforms, integrating technology for targeted and interactive campaigns.

Definition:
Out-of-Home (OOH) Advertising refers to any advertising in public areas. OOH Advertising includes all ad spending on large formats (e.g., billboards), street furniture (e.g., bus shelters), transit and transportation (e.g., bus and commuter rail displays), and place-based media (e.g., traditional ambient media at the point of sale). Out-of-Home Advertising is divided into two markets: Traditional OOH Advertising and Digital OOH Advertising.

Structure:

The Traditional Out-of-Home Advertising market refers to all revenues from advertising in traditional (physical) out-of-home media. The content in this market only refers to non-digital revenues.
Digital Out-of-Home Advertising refers to all revenues generated from internet-connected out-of-home advertisements. The content in this market only refers to digital revenues.

Additional information:
Out-of-Home (OOH) Advertising comprises advertising spending, users, and average revenue per user. The market only displays B2B spending. Figures are based on advertising spending and exclude agency commissions, rebates, production costs, and taxes. Additional definitions of Traditional Out-of-Home (OOH) Advertising and Digital Out-of-Home (DOOH) Advertising can be found on the respective pages. Key players in Out-of-Home Advertising include JCDecaux, Ströer, Focus Media Information, Hakuhodo, Dentsu, Clear Channel Outdoor, and APG SGA. For more information on the data displayed, use the info button right next to the boxes.

Traditional & digital billboards
Traditional & digital street furniture
Traditional & digital transit & transportation
Traditional & digital place-based media

Movie theater advertising
Event- and promotion-media

The Out-of-Home Advertising market in Serbia has been experiencing significant growth in recent years, driven by changing customer preferences and the increasing demand for outdoor advertising.

Customer preferences: Serbian customers have shown a growing preference for out-of-home advertising due to its ability to reach a wide audience and create a lasting impact. With the rise of digital technology, out-of-home advertising has become more interactive and engaging, capturing the attention of consumers in a cluttered media landscape. This has led to an increased demand for digital billboards and interactive displays, which offer advertisers more flexibility and creativity in their campaigns.

Trends in the market: One of the key trends in the Serbian Out-of-Home Advertising market is the shift towards programmatic advertising. Programmatic advertising allows advertisers to target specific audiences and deliver personalized messages, resulting in higher engagement and conversion rates. This trend is driven by advancements in data analytics and the availability of real-time audience insights, enabling advertisers to optimize their campaigns and maximize their return on investment. Another trend in the market is the integration of mobile advertising with out-of-home advertising. With the widespread use of smartphones, advertisers are leveraging mobile technologies to enhance the effectiveness of their out-of-home campaigns. This includes features such as QR codes, NFC tags, and location-based targeting, which enable consumers to interact with outdoor ads and receive additional information or discounts on their mobile devices.

Local special circumstances: Serbia's geographical location and cultural heritage make it an attractive market for out-of-home advertising. The country is strategically positioned at the crossroads of Europe and has a rich history and diverse cultural heritage. This attracts a large number of tourists, both domestic and international, who are potential customers for outdoor advertising. Additionally, Serbia has a growing urban population, with many people commuting to work or school, making them a captive audience for out-of-home ads.

Underlying macroeconomic factors: The growth of the Out-of-Home Advertising market in Serbia can also be attributed to favorable macroeconomic factors. The country has experienced steady economic growth in recent years, resulting in an increase in disposable income and consumer spending. This has created a favorable environment for advertisers to invest in out-of-home advertising and reach a larger audience. Furthermore, Serbia has made significant investments in infrastructure development, including the construction of new roads, highways, and public transportation systems. These developments have created more opportunities for outdoor advertising, as advertisers can target commuters and travelers along these routes.

Data coverage:

Data encompasses enterprises (B2B). Figures are based on out-of-home (OOH) advertising spending and exclude agency commissions, rebates, production costs, and taxes. The market covers traditional out-of-home advertising (offline out-of-home advertisements) and digital out-of-home advertising (internet-connected out-of-home advertisements).

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.

This report presents a comprehensive analysis and additional information on the Advertising & Media market, in a PDF format.

When consumers take a break from smartphones, connected TVs, and computer screens, outdoor advertising is often there, promoting products and services on billboards and transit displays. Still, out-of-home (OOH) channels have also gone increasingly digital – today, online and programmatic solutions drive the industry's expansion worldwide. Mid-2023 estimates indicated that static OOH could barely grow half as fast as the digital OOH (or DOOH) subsegment between 2023 and 2025.