Mumbai: Alok Jalan, MD of Laqshya Media Group and Mr. Sai Nagesh, Chief Strategy Officer, Laqshya Media Group shed light on How far is the OOH industry from a 10 thousand crore valuation in their session ‘Disrupt OOH to conquer Mount 10K-Cr at OAC 2019.
Sinking deep into the statistics-based study of the ecosystem of OOH in India, the duo talked about how the industry will become more important in this age of media consumption.
Drawing connections between the average age of Indian population and the proportion of rural against urban, Sai suggested that the data driven digital media on the outdoor front will magnify the larger stature of the OOH medium. In their study, they observed a total spend of Rs. 5750 crore on the outdoor industry. This number takes up about 9.3% of the total spend on the advertising industry, according to Mr. Sai Nagesh.
Total Rs. 5750 crore spends comes from traditional OOH, Railways, Airport, Malls/Multiplexes/Modern Retail, Metro & State Road Transportation from the source of Govt of India, Media Owners, Industry Source, Desk Research, and Syndicate database in the FY 2018-19.
Stating a fact about the infrastructural development at the Delhi and Mumbai airport, Alok commented that the development led to greater profits from these ambient spaces. “If there is better supply then there will be a high demand from the client,” concluded Alok Jalan.
Drawing inter connectivity between design and technology, and infrastructure and OOH advertising, Sai claimed that the 10k Cr. valuation is a close reality. The growth in investment in the industry and the estimated growth in the near future, strongly backs this claim.
Alok Jalan’s message to the OOH industry, as a conclusive statement was that “selling targeted audience, as against a specific site will get better profits.”
The Expo showcases cutting-edge OOH solutions spanning DOOH hardware and software solutions, media materials, fabrication solutions, among others. Well-established digital OOH display solution providers Xtreme Media, Atenti Origins Photoelectricity Consort, Indian Roar, and Everglow represent the hardware category whereas companies like software solution providing firms like 4Martech Labs, Garuda Advertising and Locad are also demonstrating the use of data technologies that will take OOH business to the next level.