The $33B market staring you in the face
A decade ago, billboards were relics of the past, reserved for Cracker Barrels and gas station exits. Today, they’re one of the fastest-growing ad commodities on the market.
As other traditional media (broadcast television, radio, magazines, newspapers) flounder, billboards have adapted to the times by embracing, and integrating, the very technologies that threatened to make them irrelevant.
How has one of the world’s oldest advertising mediums survived the onslaught of a digital revolution? And how can entrepreneurs take advantage of the growth?QUICK FACTS
- Billboards are a $29B market, and are expected to grow to a $33B market (a 12% increase) by 2021.
- Billboards are cheaper (on a CPM level) than online alternatives.
- Entrepreneurs see opportunities to create new forms of digital outdoor ads and streamline the process of buying billboard space.
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Don’t press snooze on this opportunity: sleep supplements
The signal: As meditation becomes mainstream, people may be surprised to find that searches for sleep apps double their meditation counterpart. As people invest in getting a better night’s rest, there’s opportunity abound, including physical products like weighted blankets or premium PJs, supplements, popular insomnia drugs having their patents expire, companies paying their employees to sleep better, marketing for sleep specialists, or online sleep education (ex: sleep apnea test has 27k searches per month).
The alternative milk market is getting frothy
The signal: As more people wave goodbye to dairy, alternative milk is slowly taking over; it has already cornered 13% of the market. With the exception of soy milk, all of the alt-milks have been on the up, with some of the newer entrants including hemp milk and pea milk. Other alt-products are getting attention, including cashew cheese, with 18100 searches per month.
Capitalizing on the Airpods market, making more money than Shopify
The signal: Since killing the headphone jack, Apple has graced the world with AirPods, which did an estimated 60m units in 2019. That means AirPods alone are bringing in approx ~$10b in revenue, more than Twitter, Shopify, or Spotify, to name a few popular tech giants. Opportunity lies in Apple opening up SiriOS or the wave of iPhone accessories (including cases, cleaning kits, hooks, and keychains) which have shown “hockey stick” growth alongside their hardware predecessor.
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