DOOH spurs OOH growth in Australia
Australia is reportedly a world leader in digital OOH investment
An article authored by Bryan Magee, CIO of Australia-based Ikon Communications, and published in Ad News, highlights that OOH in Australia has “enjoyed a stellar few years of growth, with figures from the OMA indicating outdoor audiences have grown by +20% over the last six years. The success has been mainly driven by a huge investment into digital infrastructure but also supported by a widely accepted measurement system in MOVE.”
“To put this into context outdoor is the third largest channel in terms of media spend and beaten only by digital for growth (+16% yoy),” observes Magee.
Australia is reportedly a world leader in digital OOH investment with the OMA reporting that around 45% of total OOH revenue is made up of digital with this number expected to rise to 50% by the end of next year.
Magee points out that “It’s hard to get an accurate view on exactly how much has been has been invested into Australian DOOH infrastructure but a conservative estimate would be between $300 - $400m over the last two years (excluding acquisitions). That’s almost 25% of turnover, and dwarfs that of markets like the UK at 10%. The digital large format sites can cost around $1m per installation so the capex is huge but rewards are seemingly worth it.”
Key advantages of DOOH, as cited by the author, are:
- Digital allows you to change your message quickly via dynamic creative meaning that time sensitive offers can now be deployed
- Specific locations can be targeted with individual creative no matter what time of day
- DOOH can deliver interactivity via actual panel interaction or by linking to a mobile device via beacon technology
- Data can be applied to DOOH which means that creative can change depending on what variables I choose to set (weather, betting odds etc.)
- Digital will allow the eventual automation of the booking of campaigns that will in time give advertisers the ability to buy audiences programmatically across many channels in one go.
Courtesy: FEPE International Newsletter