LeagueOne

And there lies the second reason this industry seems to be booming. OoH has surely gone beyond those traditional static methods of posters to create new benchmarks of combining the same with electrifying audio-visual promotional techniques. To that effect, new companies such as LeagueOne have already entered this business space with video display facilities and interactive promotional counters. Anurag Batra, Editor-in-Chief and Publisher, Exchange4Media Group, added to this, “Both advertisers and agencies are using new technology (LED screens, dynamic displays, wireless networked displays) and various innovative advertising options in order to grab this opportunity.” Moreover, the emergence of mall culture and the erstwhile retail boom has also helped. In this regard, Rajesh Jog, CEO, V-Jive (which provides radical forms of in-store audio-visual advertising), told us, “Specialized networks like gyms, lounges, clubs etc cater to audiences with a specific mindset and are perfect platforms for high-end brands.” Anurag Batra of Exchange4Media also highlighted, “This business of Rs.1,100 crores has already witnessed the emergence of large players.” According to Zenith Optimedia, the Indian advertising spend still is just 0.46% of GDP as against the global figures of 0.94% (that is, almost 50% less than global averages); but with a whopping growth rate of 15.8%, it’s leaving behind all other regions. And in its wake, many players have been attracted to the OoH space, like Times OoH, Laqshya, V-Jive, Flash Media et al.

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Source : IIPM Editorial,

An Initiative of IIPM, Malay Chaudhuri and Arindam Chaudhuri (Renowned Management Guru and Economist)