‘10K-cr valuation for OOH industry is close reality’: Alok Jalan
By Pray Jani - July 27, 2019
Alok Jalan along with Sai Nagesh gives hope to the OOH industry with their study of the development trajectory
During the day 1 of Outdoor Advertising Convention 2019 held in Mumbai, Alok Jalan, MD of Laqshya Media Group and Sai Nagesh, Chief Strategy Officer, Laqshya Media Group shed light on How far is the OOH industry from a 10 thousand crore valuation in their session ‘Disrupt OOH to conquer Mount 10K-Cr.
Sinking deep into the statistics-based study of the ecosystem of OOH in India, the duo talked about how the industry will become more important in this age of media consumption.
Drawing connections between the average age of Indian population and the proportion of rural against urban, Sai suggested that the data driven digital media on the outdoor front will magnify the larger stature of the OOH medium. In their study, they observed a total spend of Rs. 5750 crore on the outdoor industry. This number takes up about 9.3% of the total spend on the advertising industry, according to Sai.
Stating a fact about the infrastructural development at the Delhi and Mumbai airport, Alok commented that the development led to greater profits from these ambient spaces. “If there is better supply then there will be a high demand from the client,” concluded Alok Jalan.
Drawing interconnectivity between design and technology, and infrastructure and OOH advertising, Sai claimed that the 10k Cr. valuation is a close reality. The growth in investment in the industry and the estimated growth in the near future, strongly backs this claim.
Alok’s message to the OOH industry, as a conclusive statement was that “selling targeted audience, as against a specific site will get better profits.”