According to the PriceWaterhouse(PwC) annual Entertainment and Media Outlook report, nearly INR 37 bn is expected to have been spent towards DOOH advertising in India by 2019. Estimated spendings by the year 2021 stand at INR 47 bn. Other forecasts also predict DOOH will be growing faster globally than other buying methods and would have overtaken traditional media spending by 2020
(https://www.mediapost.com/publications/article/304385/online-ads-overtake-tv.html). This is a rate of almost 15% for the coming four years.(Source: Statista )
Across the world, DOOH is a fast-growing format in outdoor media and is now being seen as the prime real estate for advertising, because of its powerful ability to reach customers.
Due to the increasing use of digital technologies, OOH advertising has seen a promising transformation. It now encourages creativity and technology adoption, as advertisers can now target screens delivering intelligent, contextually relevant and real-time content to today’s customer. Campaigns can be rolled out in a very quick turn-around and managed in real-time.
Programmatic advertising, or contextual advertising has made DOOH very flexible. Campaigns can now be varied geographically, and media-buying can be automated to focus on specific audiences and demographics. This gives rise to immense possibilities for advertisers. For exampleDOOH enabled a digital streaming service that geo-fenced an area around their office. People who passed through this area were targeted and if they ever logged onto an alternate radio service in the surroundings, they were immediately served an ad to try out a new radio station.
In DOOH solutions, new age digital technologies like beacons, image recognition, real-time dynamic creative and social integration are being set-up to use devices that transmit relevant and targeted messages to nearby screens. AI and Real-Time Bidding for social media marketing, display advertising, and video campaigns are expanding to traditional television advertising marketplaces. This is great news for digital marketers and DOOH advertising operators.