Outdoor advertising spend dropped to N20.5bn in 2014

Outdoor advertising spend dropped to N20.5bn in 2014
By: Chris Agabi | 30 Jun 2015 13:35

This article was culled from http://www.bizcommunity.com.ng/Article/157/70/130752.html

The total amount of outdoor advertising spend in Nigeria dropped to N20.5bn in 2014 from the N23.3bn it achieved in 2013 representing a N3.2bn decline.
Kole Ademulegun, the immediate past president, Outdoor Advertising Association of Nigeria (OAAN) disclosed this in Lagos at the 9th Exhibition & Poster Awards held in Lagos.

Ademulegun who was also the chairman, the Poster Awards Committee also said in 2012, the advertising spend was N17.7bn which shows that the spend was rising annually until last year.

Also commenting at the 2015 Poster Award which had the theme: "Be Bold", the President OAAN, Charlse Chijide said "in coming with the theme, we felt that creativity is largely a product of ingenuity; that it takes thinking out of the box to come up with a message that will connect the mind and the pocket of the reader/viewer with the product offering in just seven or fewer words. We believe that creative excellence requires certain bold initiatives, hence the expression of 'be bold' to describe the 2015 OAAN Exhibition and Poster Awards.

He said the entries for this year stood at 110 from less than 70 last year. He noted that the "place of outdoor advertising to the success of all marketing communications efforts has continued to be on the increase. This is because of the dynamic nature of the practice. It is one that can always easily adapt to prevailing trends. It has consistently been influenced by and has benefited tremendously from prevailing technological advancements.

Furthermore, outdoor advertising has also helped to light up and beautify our environment. It makes the skyline of our cities more beautiful.
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