No one told digital out-of-home media companies about the economic downturn, since there is a further expansion of the burgeoning medium. AdSpace, which operates a DO network reaching consumers in malls located in the nation's top DMAs, plans to expand into 40 new malls over the course of 2011.
That brings its total mall network to 150 shopping and "lifestyle centers" across the country.
AdSpace will bring its DO network to malls and outdoor lifestyle centers owned by existing partners, including General Growth Properties, PREIT and CBL, as well as venues owned by new partners.
The addition of 40 new malls represents a major acceleration in the pace of growth from 2010, when AdSpace added eight new malls in straitened economic conditions. The company claims the new additions planned for 2011 will bring its total monthly audience to 150 million people.
AdSpace also reported a big increase in ad sales revenue in 2010, with total annual sales increasing 60% compared to 2009, and fourth-quarter revenue up 80% versus the same period the year before. This growth was driven by a surge in ad spending in the telecommunications and financial services categories, where revenue increased fourfold and sevenfold, respectively.
Ad spending doubled in categories including film, television, entertainment and consumer packaged-goods.
The news of plans for expansion comes close on the heels of an announcement from rival mall advertiser EnVu that its EnSpire DO network targeting retail shoppers has been deployed in 100 malls across the country's top 20 DMAs over the last three months. EnVu says that number should grow to 135 malls by mid-February and 225 malls by the end of this year.