The third space.(outdoor advertising)

The outdoor advertising market is battling other platforms for its share of a shrinking marketplace and needs to convince advertisers that it is building a medium of the future, writes David Benady.

The outdoor advertising industry is polishing its act. Poster contractors are out to convince brand owners that they are modernising the nation's billboards and their platform offers unique advantages over other media.

In the past five years, pounds 170m has been spent boosting outdoor stock - upgrading poster sites and introducing digital screens. This, along with the reduction in lead times for posting up campaigns to a matter of days, has put outdoor on a par with other media, according to the industry.

Meanwhile, the Postar audience measurement system claims to equal anything offered by newspapers, television and radio for accuracy and transparency.

Despite these improvements, however, some marketers and media buyers remain sceptical about the ability of outdoor to be as nimble as TV and press. They believe the medium is unresponsive, and lacks credible measurement systems.

Figures from the Outdoor Advertising Association (OAA) show that revenue in 2008 was down year on year in each quarter - no doubt providing food for thought for delegates at the trade body's conference …