Consolidation, coordinated adtech, measurement metrics, standardisation key to APAC OOH growth: Tom Goddard
By Rajiv Raghunath - November 02, 2023
WOO President Tom Goddard set the context for the deliberations in the 2nd WOO APAC Forum being organised in Bali
The world OOH spend in 2022 was estimated at US$36 billion in 2022. However, that constituted only an average 5% of the total ad spend. Addressing the issue of what is termed as a ‘5% syndrome’, Tom Goddard said in his inaugural address at the 2nd World Out of Home Organization (WOO) APAC Forum, being organised in Bali, Indonesia on November 1-3, that five key factors are to be looked into:
- Fragmented ownership of OOH media worldwide
- Uncoordinated adtech
- Poor OOH audience measurement in many markets
- Absence of standardisation of OOH terms
- Insufficient collaboration at the industry level.
By addressing these imperatives, Tom said the world OOH industry would potentially gain a 10% share of the total ad spends by year 2026. Citing markets like Australia, US, Canada and the Scandinavian countries, he said that consolidation has helped OOH there to gain a larger share of the ad spends.
Tom underlined the importance of ushering in robust OOH audience measurement and urged the industry in the APAC region to step up the efforts.
Referring to the growing economic significance of the APAC region which accounts for a third of the world GDP, Tom said that is an important reason why “we’re back so soon”, a year after the 1st WOO APAC Forum was organised in Kuala Lumpur a year ago.
Looking ahead, Tom identified five key steps as the ‘5% Syndrome Busters’
- More consolidation
- More coordinated Adtech Strategies
- More measurement and data across all markets
- More collaboration on standards and language
- More empowerment and resource for National Associations
The conference got underway with I Dewa Gede Mahendra Putra, SH, MH, Assistant to the Government and Welfare of the Provincial Secretary of Bali, welcoming the delegates. In his special address, he said: “It is a privilege for me to host this conference in Bali”.
Underlining the technology advancements that facilitate wider information dissemination, I Dewa Gede Mahendra Putra made a special reference to OOH having a particular role in this emerging scenario. He exhorted the media owners to step up the quality of their OOH media assets, even as the medium serves as a crucial vehicle for launching campaigns and added that OOH is expected to play its part as a catalyst to the economic progress of Indonesia and Bali in particular.
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