'OOH is one of the most impact medium due to Covid19', says WPP’s CEO Mark Read
By Bhawana Anand - July 09, 2020
In a ‘FICCI Frames 2020’ conference, Mark emphasis on the significance of DOOH and as an effective medium to measure the impact more carefully
Addressing the virtual conference titled FICCI Frames 2020, Mark Read, Chief Executive Officer, WPP, has pointed out that Indian advertising spends have faced one of the most severe reactions of the ongoing global health crisis across the world. “In India, we expected ad spends to be up by about 13% in the year 2020 but it was already impacted by the first quarter down 5%,” he said.
He added that the expected figure of ad spends, the average of three months, to be between 50% and 60% in the second quarter, 30% in quarter three and a little bit less in the fourth quarter.
“There are no other official or expert forecasts, but we are seeing some recovery in economic activity,” he said.
Mark stated that there are three phases of the pandemic namely ‘React, Recover and Renew.’ India has now, entered the recovery and renew stage where people have started thinking about what they want to do once the pandemic is over.
Due to the paradigm shift taken place in the media consumption, it has certainly affected the OOH medium along with other traditional channels like TV, Print and etc. “OOH has been clearly challenged due to the pandemic that there are people not outdoors in many parts of the world. Three months ago in London, it was deserted. Today, it feels like 80% is back to normal”, shared Mark.
He finds digital out-of-home (DOOH) media much effective. “It offers the ability to target messages, more precisely by audiences, by time of day, to be much more responsive to events, and to measure the impact much more carefully. Like other parts of the economy, the outdoor industry needs to move online and provide clients with much faster ways of changing their creative and adapting it, than it has done historically,” he explained.