Outdoor advertising giant Clear Channel Outdoor Holdings has expanded its inventory of digital panels in Latin America by 50 percent this year, reflecting the growing demand for digital out-of-home advertising, according to the company's website.

Clear Channel Outdoor said it has the largest outdoor digital network in the region, with a total of 45 digital panels (up from 30 in 2012): 15 in Chile (up from 12 in 2012), 16 in Mexico (from 8) and 14 in Peru (from 10). The Latin America region has seen the out-of-home industry as a whole grow by 12.5 percent year-on-year from 2012 to 2013, the company said.

"As a company, we pride ourselves on innovation and in meeting any client need," Clear Channel Outdoor global CEO William Eccleshare said on the site. "Digital billboards help marry the oldest and most enduring advertising medium with the newest technologies, with the results providing huge creative potential for brands to connect with people in public space.

"We always encourage our partners to push creative boundaries in order to connect with consumers in new and impactful ways, and we find our partners in Latin America to be extremely innovative. The region sits at the forefront of the latest global trends in the out-of-home industry, and the rate of growth — particularly in the digital out-of-home space — is very interesting to us."

Aris De Juan, Clear Channel's regional president for Latin America, said on the site that DOOH is "showing a dramatic rate of growth" in the region. "[A]nd, while the actual numbers of digital panels may sound small, we are seeing a large demand for this innovative technology from advertisers and consumers alike. This, combined with the region's high levels of creativity and innovation, leaves us very optimistic about the future of both the medium and the business here."

Learn more about DOOH advertising.

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