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The study, which surveyed over 1,100 business professionals, found that more than 9 out of 10 people view the WSJ Office Network screens in their building lobbies. Of those viewers, 88% consider the Network's programming of live updates from WSJ.com to be valuable. At a time when consumers are being deluged with advertising in virtually every medium, a surprising 68% of the respondents agreed that the advertising messages on the WSJ Office Network, including those from GM's Cadillac division and other leading companies, are relevant to them.
The WSJ Office Network, launched in 2006 by Dow Jones & Company and Office Media Network (OMN), delivers continuous updates from the world's leader in business news, along with landlord-tenant messages and relevant advertising, all of which appears on high definition, flat panel LCD screens in the lobbies and high-traffic areas of class A office buildings in the nation's top 15 DMAs. OMN recently announced that the Wall Street Journal Office Network will also extend to office tower elevators later this year.
"The survey shows that business professionals are open to being marketed to in office building lobbies as long as the ads are relevant to them and the content comes from a credible source such as the Wall Street Journal," said Diane Williams, senior analyst, custom research, Arbitron Inc. "This combination may help The Wall Street Journal Office Network emerge as a fundamental component of any media plan targeting business decision markets," said Williams.
The survey findings help to explain why office-based digital media is one of the fastest growing categories in advertising today. Overall, marketers are now investing $1.2 billion of their national media budgets in out-of-home advertising, including office building-based media networks, according to Profitable Channels, a marketing services company. Spending on the video advertising channel specifically grew 28% in 2006, states PQ Media's "Alternative Out-of-Home Media Forecast 2007-2011," and growth is expected to continue at the same pace in 2007. And consumer recall rates for digital advertising networks are around 40% - exceeding TV, radio, outdoor and print media.
"The Arbitron study clearly shows that The Wall Street Journal Office Network is an efficient and innovative tool for advertisers to influence an increasingly elusive audience of affluent business decision makers, whose media habits are often fragmented across multiple channels and who may be moving away from traditional media like magazines, radio and TV," noted Jim Harris, chief executive officer, Office Media Network.
Other key findings of the Arbitron study include:
-- More than 75% of those who noticed The WSJ Office Network screens said that they impacted some level of corporate spending in the last 12 months.
-- Nearly every person (93%) exposed to the WSJ Office Network in an office building lobby recalled seeing the screens.
-- A typical viewer is exposed to the network an average of five times per day, generating cumulative viewership of 3.3 minutes.
-- 61% percent of top level executives believe they were more likely to watch content from The Wall Street Journal compared with other news sources.
-- The WSJ Office Network viewer is primarily highly affluent: average household income is $159,000 and 48% earn an annual household income of $100,000 or more.
-- 54% percent of those exposed to the network classify themselves as top-level executives, managers or professionals.
"Arbitron's findings confirm much of the feedback we have received from tenants and property owners," says Mark Mitchell, OMN's Executive Vice President of Sales & Marketing. "When you offer affluent business audiences the opportunity to get relevant information from a trusted source like the Wall Street Journal, at a time and in a place where it's easy to access and meaningful, they tend to act on it. It is especially noteworthy that the majority of our viewers hold a professional, managerial or executive position in their company. This delivers an audience of affluent consumers who are highly educated, many of whom make important business and personal purchases decisions while at work."
About the Study
The study, titled The Wall Street Journal Office Network: Influencing Business Decisions Where Decisions Are Made, examines overall viewership, demographics and purchase behavior, along with the consumer's level of engagement with the network's advertising and content. The data used to support the findings in this report are based primarily on original research conducted by Edision Media Research in cooperation with Arbitron Inc. The 1,172 respondents who participated in this study were recruited in nine office buildings containing The WSJ Office Network screens in New York, Chicago, Philadelphia, Boston and Washington, DC. The survey was completed online.
About The Wall Street Journal Office Network
The WSJ Office Network provides building tenants and visitors with up-to-the-minute news from the Journal's main sections and market indexes, weather and scrolling breaking-news headlines, along with impactful and relevant advertising. Building owners can also use the Network to communicate important announcements to tenants regarding building-related events, maintenance, safety and security.
About Office Media Network
Office Media Network (www.officemedia.com), developer of The WSJ Office Network, is a leading place-based integrated marketing and communications company. OMN creates and manages solutions to support the needs of real estate owners and their customers, by combining advanced technology, world-class content, and an experienced management team. The company serves top office properties in 15 U.S. markets.
About Dow Jones & Company
In addition to The Wall Street Journal and its international and online editions, Dow Jones & Company (NYSE: DJ; www.dowjones.com) publishes Barron's and the Far Eastern Economic Review, Dow Jones Newswires, Dow Jones Indexes, MarketWatch, and the Ottaway group of community newspapers. Dow Jones is owner of Factiva and co-owner with Hearst of SmartMoney. Dow Jones also provides news content to CNBC in the U.S. and operates The Wall Street Journal Radio Network in the U.S.
SOURCE: Office Media Network
Berns Communications Group Joshua Greenwald, 212-994-4660
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