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Digital Signage Leaders Say '09 Looks Good

The Strategy Institute, an independent research-based organization, and MediaTile, a provider of cellular digital signage solutions, found that the majority of industry leaders and luminaries who attended the Fourth Annual Building Your Digital Signage Business Summit agree that the industry will sustain strong growth in 2009 and 2010, despite the economic downturn.

The Strategy Institute, an independent research-based organization, and MediaTile, a provider of cellular digital signage solutions, found that the majority of industry leaders and luminaries who attended the Fourth Annual Building Your Digital Signage Business Summit agree that the industry will sustain strong growth in 2009 and 2010, despite the economic downturn.

The vast majority of speakers and panelists participating at the summit indicated that as vendors, agencies, integrators, service providers, or network operators, they continue to see strong growth and demand for digital signage products and services, and expressed a positive outlook on forecasts and pipelines relative to market conditions. Several believed this could be a direct result of the increased need that advertisers and brands have in getting their messages in front of consumers at the point of sale, where and when it matters most.

Chaired by Keith Kelsen, executive chairman of The MediaTile Co., the summit was held over two days in Chicago. "Although aggregate brand spending may shrink in 2009, the digital signage industry is beginning to see a reallocation of tat spend to this new medium," said Kelsen in a statement.

"I believe retail media is the next great form of mass media, but we are not going to get there by approaching this business as a land grab for real estate," said Richard Fisher, president of Premier Retail Networks. "Especially in today's economic climate, retailers are looking at retail media as a strategic tool to better serve their shoppers. If we can strike the right balance between 'serving' versus 'selling,' we will win on all fronts because customers who have satisfying shopping experiences engaging with retail media will become a magnet for advertisers."

"We expect that gross advertising spending in Q1 for digital out-of-home networks will be light, but we have already seen significant bookings for Q2 and for the remainder of 2009, as pent-up demand is met and as the economic situation stabilizes," said Peter Corrigan, president of Submedia & The University Network.

In a recent market assessment, ABI Research wrote, "The digital signage market will more than double in size over the next few years. Driven by a desire by retailers and advertisers to better target consumers in the out-of-home media market, the overall market for digital signage software, hardware, installation, and management services in the United States will grow from a $641 million market in 2008 to nearly $1.4 billion by 2013."



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