It is a good time to invest in new OOH media, says poll conducted by Media4Growth
By Bhawana Anand - August 21, 2020
67% of OOH concessionaires believe in investing in the new tenders rolled out by different state corporations
In its recent poll conducted under poll section named ‘Have Your Say’, Media4Growth has asked OOH concessionaires if it is a good time to invest in new outdoor media properties. To which, 67% of the respondents have agreed while 11% disagreed and rest weren’t sure.
Currently, there are several fresh Expression of Interests (EOIs) and tenders out in the market such as Nagpur metro semi-naming rights, Tiruppur smart city electronic display boards, Chandigarh civic body’s bus shelter media tender, RailTel RDN project, Bruhat Bengaluru Mahanagara Palike (BBMP) Way Finders tender and many more.
Looking at uncertain market, some OOH industry people are avoiding investing on new media and trying to reduce the burden of hefty license fee. In fact, they are surrendering their existing tenders. However, a few media owners, having long term optimistic vision, believe bidding for tenders during crises is a smart business move. According to them, this step will help them to get tender at a good price due to less participation.
Recently, Creative Designer, a Punjab-based media owning firm has bagged the first ever outdoor media tender awarded by the Chandigarh Municipal Corporation. The five years tender given on build, operate and transfer (BOT) allows installing 12 sites across the union territory.