Girish Menon cements foundation of OAC 2018
By Bhawana Anand - July 27, 2018
The Co-Head, Media & Entertainment of KPMG India coins that sort regulatory, financial, operational & societal challenges and boost digital OOH in order to grow advertising share
Girish Menon, Co-Head, Media & Entertainment of KPMG India sets the tone of Outdoor Advertising Convention 2018 by elaborating the ‘Emerging Media Consumption- what’s in there for OOH growth. While comparing the Indian market scenario with global conditions, Menon emphasises that the traditional media in India is still touted to continue its strong growth even as digital is expanding the fastest. The Indian OOH market is expected to grow 10% vis-à-vis to Global market which is expected merely to grow 3.4% in 2018. Highlighting the current stature of the Indian OOH market, he clearly states that the Indian OOH market has witnessed strong growth in the past; however, digital OOH remains almost entirely untapped. Despite the fact that the Indian OOH market has grown at 9.8 % CAGR during 2012–17, with airports accounting for a significant chunk; the Digital OOH (DOOH) accounts for a measly 1% of the total OOH market —compared to 35–40% share globally. Also the mobile consumption synced with OOH can be a prime leveraging opportunity with the growing trend.
Menon opines that there is a need of growth in supply from government and private sector spending to continue to drive OOH in India. To grow its share in advertising pie, OOH industry would have to conquer regulatory, financial, operational and societal challenges and boost digital OOH.