Clear Channel Brings Smart Billboards to Europe; AANA and Ad Standards Merge
The world’s second biggest out-of-home (OOH) advertising firm, Clear Channel Outdoor, has announced that it will incorporate smart technology into its digital advertisements. The outdoor advertising giant will now be able to track consumer behaviour through its billboard and bus shelter ad spots.
The new Radar tracking technology gives advertisers a better idea as to where they should place their advertisements by using anonymised mobile data to pinpoint particular customer segments. It also provides greater insights into the success of campaigns by monitoring whether consumers went on to purchase a company’s product after seeing its ad.
Clear Channel now plans to implement Radar across Europe in a matter of months. The product was first introduced in the USA four years ago, but had to wait for approval under increasingly strict EU privacy legislation.
The move is an attempt to help the sector, which had been the most resilient prior to 2020, recover after it was particularly hard hit by the COVID-19 pandemic. The firm reported a net loss of USD $143m (£109.7m) in Q2 2020, with revenue diving by 55% to USD $315m (£241.7m). CEO William Eccleshare is optimistic about the development, stating Clear Channel is right to “work on the basis that [the market is] going to come back”.
Source: Grace Dillon