By: N Jayalakshmi
Last updated : August 25, 2021 10:51 am
Shailender Luthra, Director, Brite Neon Lights & Member, IOAA spells out the apex OOH body’s initiative to encourage media owning firms to come out with indicative pricing of their media assets that will be of the essence to advertisers & buyers
Speaking further about IOAA initiatives towards implementing an OOH media rate card system, he says, “We have started discussing this in IOAA and have formed an Executive Committee with regional representation. The idea is to get more people on board. Also, there should be a rate card not only for hoardings, but other media as well in the OOH space.”
Shailender also spells out the challenges involved in implementing a rate card system in the OOH industry, “The IOAA can only recommend and suggest an indicative, recommended pricing and at best, issue guidelines to members. But it is the responsibility of the individual media owners to see to it that they accept that. Otherwise they are not only harming themselves, but harming the industry too.”
He elaborates further, “The biggest problem with this industry is the lack of unity. People will have to come to a common platform, but the realisation of that need is missing.
The other challenge in fixing a rate card across India is that the media ownership and type is varied and differs from place to place. So it needs a detailed analysis. The IOAA is now planning a study to arrive at audience measurement metrics, among other things. Once the metrics come into play, it will become easier to rate a site and arrive at a pricing.”
Urging the industry players towards a rate card, he says, “I appeal to all media owners to reach out to IOAA and become part of the Association, which is for the whole industry. I urge them to reach out to us and interact. We are here to listen to each one of them. We would like to have more members on board and implement important ideas like fixing a minimum circle rate.”