Sunday, July 21, 2024

DOOH makes up over 45% of total OOH ad revenue in the APAC region (World OOH)

Thursday, October 13, 2022

WOO APAC Forum: Region set to benefit from growth trends and positive dynamics, says WOO’s Goddard.

World Out of Home Organization (WOO) President Tom Goddard spoke to over 200 delegates at WOO’s first in-person Regional Forum, covering the APAC region, which was held in Kuala Lumpur this week.

The APAC region, which now accounts for a third of the world’s Gross
Domestic Product, is set to share in the Out of Home industry’s
worldwide strong bounce back after the pandemic.

Yet he warned that while a range of positive dynamics are driving the
medium forward, the industry needs to increase collaboration at all
levels and shift from a focus on local competition to sector level
cooperation to help combat the threat of other media.

Goddard said that WOO’s Global Data Index shows that Out of Home 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

But Static OOH shouldn’t be forgotten, he said. “Static still accounts for
around 60 per cent of global revenues, which some observers assume is
in terminal decline. Not so. Static is forecast to maintain its revenues at
flat, which I think is a great result, when you think about inventory
moving over to digital.”

Goddard then outlined a range of positive dynamics which will increase
the growth of OOH. “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 on-line media fatigue and information
overload especially with greater on-line and social media brand safety
and fraud concerns causing marketers reconsider the media options.”

Finally Goddard declared that National Trade Associations are
performing valuable work in increasing industry collaboration and sector
level growth. “Five years ago we had no OOH Trade association
members. Today we have over 30, including 17 from the top 20 OOH
markets. We would like more representation from APAC markets to gain
even more collaboration on sector growth initiatives.”

Goddard concluded with a rousing call to action, encouraging all
members to:
Digitise more inventory
Invest in Adtech
Provide Quality Audience Metrics

Invest in Data Analytics
Actively support and promote Trade Associations
Working Better Together
For further information: contact Richard Saturley at
richard@worldooh.org
About WOO
The World Out of Home Organization is the only global Out of Home Association,
working to promote and improve the OOH industry on behalf of its members.
Board members include the major International companies  – JCDecaux and Clear
Channel – as well as Ströer, Pikasso, Global Outdoor, blowUP media, OUTFRONT
Media and Lamar from the US, Selvel One from India, Primedia from South Africa
in as well as OOH associations, the OAAA in the US, Alooh from Latin America and
the OMA in Australia.
Membership is open to all companies who operate in the OOH sector and, as a
non-profit Organization, funds are reinvested in industry issues such as research
and the annual international congress. WOO is a member of EASA in Europe, as
well as a founding member of ICAS, and actively works to help the membership
with legislation issues within their own countries as well. It also aims to lobby for
Out of Home advertising with authorities, international organizations, opinion
formers and other elements of the communication media. More information is
available at www.worldooh.org

Published on Thursday, October 13, 2022 at 4:02 PM

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