Better Metrics, Automation, Creative All Helping Drive Global OOH/DOOH Growth: WOO President
October 17, 2022 by Dave Haynes
Credible audience measurement, increasingly automated media planning and respect for creative are all helping drive global growth in out of home and digital out of home advertising, suggests the president of the World Out of Home Organization (WOO).
UK-based President Tom Goddard laid out his thinking about the state of the worldwide OOH/DOOH industry last week at a WOO regional forum, covering the APAC region, in Kuala Lumpur. He told the crowd, according to PR on his talk, that WOO’s Global Data Index shows OOH in the APAC region is very much in line with global forecasts.
The global market hit a record $37 billion revenues in 2019 and was on a fast growth trajectory, he said. Global DOOH is leading the growth charge, projected to be close to 50 per cent of all OOH Revenue by 2026. Across APAC it already makes up over 45% of revenue
Goddard outlined a set of “positive dynamics” he suggested will drive sector growth:
- “Firstly, more and more markets are investing in credible audience metrics, which builds trust, increases confidence, enables intra media comparison and facilitates a common trading language;”
- “Automation is also a major growth stimulus now. When you invest in Automation you also create the ability to trade programmatically and to overlay data;”
- “And the creatives have fallen back in love with Out of Home, having been dazzled and distracted for a while by on-line, especially with the new darling of the creative community 3D Anamorphic. Every creative on the planet wants to develop one of these.”
External factors are also working in the industry’s favour, he said. “Consumers are suffering from online media fatigue and information overload especially with greater online and social media brand safety and fraud concerns causing marketers reconsider the media options.”
Goddard encouraged members to:
- Digitize more inventory;
- Invest in ad tech;
- Provide Quality Audience Metrics;
- Invest in Data Analytics;
- Actively support and promote Trade Associations;
- Work Better Together.
I did a podcast interview with Goddard recently …