AAAI & IOAA sign joint agreement to streamline OOH business

Advertising Agencies Association of India (AAAI) and Indian Outdoor Advertising Association (IOAA) today signed a joint agreement for the first time. The same was announced by AAAI’s President Dr MG Parameswaran and N D Mehta, Chairman, IOAA at a press conference.
 
On this occasion, Dr Parameswaran stated that the overall objective of two industry bodies coming together is to help the outdoor advertising industry in India to grow in an organized and regulated fashion, to ensure that proper systems and processes are followed, timelines adhered to and commitments honored on both sides. Further,  a suitable mechanism will be set up to penalise defaulters with a view to prevent future defaults and bringing everybody in line with the policies and good practices as well as  focus on regulating and disciplining advertisers behaviour in matters  concerning outdoor trade, agency remuneration, corporate governance and adherence to payment deadlines. A special feature of this agreement is that the advertiser will not be allowed to shift their business to another agency until dues of the earlier agency are fully settled.
 
Welcoming this development, N D Mehta mentioned that IOAA on its part has also embarked on an ambitious project to conduct viewership studies on OOH initially in major cities. Further, it will ensure 100 percent listing of all sites with unique id number in a scientific manner for the benefit of all concerned.
 
The Advertising Agencies Association of India (AAAI) is the official, national organization of advertising agencies, formed in 1945, to promote their interests. The association promotes professionalism, through its founding principles, which uphold sound business practices between advertisers and advertising agencies and the various media. The AAAI today is truly representative, with a very large number of small, medium and large-sized agencies as its members, who together account for almost 80% of the advertising business placed in the country.
 
Indian Outdoor Advertising Association, (IOAA), registered as a not-for-profit limited company since 2007, has been promoted by OOH media companies with international and national presence, which form its Board of Governors. IOAA, with affiliations to OOH industry associations in Europe, USA, Australia, South Africa, UK and Canada, has wide membership from all regions of India and has been actively promoting legal media and ethical, best practices amongst outdoor media owners. It also operates an effective Credit Control Council and has been active in providing training and other services to the industry that forms an important part of any communication mix today.  IOAA plays a major role of not only uplifting the efficiency with which this very old industry functions, but is also providing a national platform for implementing basic reforms and changes that would benefit all stakeholders in the industry.