Maintaining the right balance between classic (traditional) out-of-home and all-conquering digital is one of the keys to growing the sector for the medium, says President of the World Out of Home Organization Tom Goddard Told the 400 delegates at the WOO’s Global Congress in Toronto.
While the OOH has recovered strongly from the epidemic, Goddard said sales have ‘sunk like rocks’, but, like other major media outlets, are still losing ground to digital tide waves. Classic OOH accounts for 63% of global revenue, despite the rapid growth of digital OOH.
Such a balance would create another “golden age outside the home,” said Sean Reilly, CEO of Lamar Advertising in the United States, one of the keynote speakers in Congress, the world’s largest OOH company in terms of value ($ 13bn).
Lamar is still a family-run company, founded in 1902 that saw all the major changes in the out-of-home, from the sticky message in buildings to the digital OOH revolution. Still primarily a classic or traditional OOH company, Lamar now earns 27% of its revenue from the digital component of its estate, only 2.5% of its 356,000 displays.
Asked by delegates who have included the world’s largest OOH media owners, advertisers and firms “to show some love,” President Goddard added: The other main strand should not be forgotten.
“We can rightly sing about the rise of digital OOH and programmatic trading, but when we consider the fate of the classic OOH, I am reminded of my school’s report which often said: ‘Do good but do better.’
“Sure, some of this has been due to digital transformation, but it still seems to me that the classic hasn’t got the love it deserves. You can’t deny that we have a much clearer vision for digital OOH than the classic OOH, which, after all, still accounts for two-thirds of our global revenue.
We don’t even have a standard definition for classics. We call it five or more different names: Classic, Traditional, Analog, Paper and Static.
“For example, we don’t have a standard definition for classic. We call it five or more different names: classic, traditional, analog, paper, and static. And the last name on this list – static, is the worst for me. If you Google it. You will find this definition: “Lack of movement, action or change, especially in a way that is seen as unwanted or distasteful.”
“There is hardly a flattering description of what a very strong and creative channel is. And that can play an important role when we focus on a global sector media share that is 6% (its current share) for advertisers through OOH. Its performance goes to the level it deserves. “
The World Out of Home Organization is the only global out-of-home association, working for the promotion and development of the OOH industry on behalf of its members. Board members include major international companies – JCDecaux and Clear Channel – as well as Ströer, Pikasso, Global Outdoor, Blowup Media, US to OUTFRONT Media, OOh! Media from Australia and Selvel One, as well as OOH Association, OAAA from USA and Latin America.