Friday, March 01, 2024

Advertisement
Home » OOH News » Specialist OOH media agencies now a part of IOAA

Specialist OOH media agencies now a part of IOAA

By VJ Media Bureau - April 16, 2015

The specialist agencies will elect their representatives on the Board of Governors of IOAA

In their recent Board Meeting, Indian Outdoor Advertising Association (IOAA) decided to accept specialist OOH media agencies as their members, on par with OOH media companies. The specialist agencies will now elect their representatives on the Board of Governors of IOAA which will give equal weightage to both media and agency businesses. In order to be truly representative of the entire industry, IOAA is now keen to induct at least two representatives from amongst advertisers in the medium to their Board. When this is completed, the industry body will truly reflect the interests of all stakeholders - media, agency and clients.

This has special significance in the industry's attempts to implement a "Standard Operating Process” that defines uniform practices across the country. The SOP provides for 10 days as minimum display period for all OOH displays, barring specific event and exhibition promotions and film launches. It also provides for a strict credit period of 80 days and issue of Purchase Orders before any campaign is displayed. There are other norms too for ensuring due performance by both media and agencies and maximum benefits to clients.

The IOAA already operates a very successful Credit Control Council which helps ensure timely payment and even arbitrates in cases of disputes. Cases of non-compliance and payment defaults lead to concerned party being placed on embargo. This has already seen clearance of payments in excess of Rs 2 crore which were stuck for over a year; clearance of more than Rs 7.6 crore is in process.

The industry has also decided to proceed with a project to develop performance and planning metrics for outdoor advertising on similar lines as BARC.  It has been decided to form a joint industry body immediately to undertake the project and own the data generated. The industry has also identified a principal consultant for the project which is to be executed as per global guidelines for out-of-home advertising research established by ESOMAR, the world standard for media research. IOAA also informed that they are in discussions with various advertiser bodies to participate in the joint industry body. The exact structure and financial model is being finalised. The project will be launched through announcement of a global RFP as soon as the joint industry body is registered as a not-for-profit company.

Tags : IOAA BARC ESOMAR
Advertisement

You May Also Like

Advertisement
Advertisement
Have You Say
Advertisement