OUT-OF-HOME ADVERTISING

Six factors are set to drive further OOH growth in 2024 and beyond

By our African Marketing Confederation News Team | 2024

‘Enormous opportunity’ for a trusted medium like out-of-home as online ‘is bedevilled by fears over brand safety, fraud, and fake news’.

The out–of-home advertising industry is back on track, says World Out of Home Organization (WOO) President, Tom Goddard, speaking at the inaugural Africa Regional Forum held in Cape Town this week.

 

Global OOH revenue looks set to exceed 2022’s US$36.8-billion, a full recovery from the pandemic, with six factors set to drive further growth in 2024 and beyond, he believes. These are: 

Tom Goddard addresses delegates at the WOO Africa Regional Forum. Photo: WOO

 

Digital Transformation 

Improving presentation standards, delivering 100% illumination, and reducing industry lead times to hours instead of weeks. 

 

Media Ownership Consolidation 

Statistics show consolidated markets win a larger share of ad expenditure. 

 

Better Measurement 

This builds trust, improves buyer confidence, compares well to other media, and enables a common trading currency. 

 

Automation 

It improves efficiency and enables programmatic trading. 

 

Value for Money 

OOH compares favourably with all other media in its reach and impact. Better funded and more unified trade bodies are key to getting this message across. 

 

Winning the contest with online 

Online, now 60% of the global ad market, is bedevilled by fears over brand safety, fraud, and fake news. The latter is magnified in an election year across the world. This creates an enormous opportunity for a trusted medium like OOH. 

 

Speaking on Africa specifically, Goddard said OOH’s share is ahead of most other continental markets, although digital penetration is still far below the 30-40% norm in other regions. This indicates a good future for the medium. 

 

Globally, said Goddard, a big challenge for OOH, aside from the seemingly remorseless rise of digital, remains sustainability.  

 

Major brands and media agencies have set fixed goals to reach carbon net zero by 2030. Not only do they expect media suppliers to follow suit, but many have also stated they will only buy media from Ad Net Zero-rated suppliers. Consequently, WOO has set up a special task force and a dedicated website to help members achieve this goal. 

 

The WOO held its Africa Regional Forum in Cape Town, South Africa, from 11-13 March. 

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    Dr Kin Kariisa

    Group CEO - Next Media

    Dr. Kin Kariisa is an extraordinary force at the helm of Next Media Services, a conglomerate encompassing NBS TV, Nile Post, Sanyuka TV, Next Radio, Salam TV, Next Communication, Next Productions, and an array of other influential enterprises. His dynamic role as Chief Executive Officer exemplifies his unwavering commitment to shaping media, business, and community landscapes.
    With an esteemed academic journey, Dr. Kariisa’s accolades include an Honorary PhD in exemplary community service from the United Graduate College inTexas, an MBA from United States International University in Nairobi, Kenya, a Master’s degree in Computer Engineering from Huazong University in China, and a Bachelor’s degree in Statistics from Makerere University.
    Dr. Kariisa pursued PhD research in Computer Security and Identity Management at Security of Systems Group, Radboud University in Nijmegen, Netherlands. As a dynamic educator, he has shared his expertise as a lecturer of e-Government and Information Security at both Makerere University and Radboud University.

    Dr Kin did his PhD research in Computer Security and Identity Management at Security of Systems Group, Radbond University in Nigmegen, Netherlands. He previously served as a lecturer of e-Government and Information Security at Makerere University in Kampala, Uganda and Radbond University in Netherlands.

    Dr Kin did his postgraduate courses in Strategic Business Management, Strategic Leadership Communication and Strategies for Leading Successful Change Initiatives at Harvard University, Boston USA.

    • Other current and previous roles played by Dr Kin Kariisa:
    • Lecturer of e-Government and Information Security to graduate students at Makerere University, Kampala and Radbond University in the Netherlands
    • Director of Eco Bank Uganda Limited, one of the largest banks in Africa
    • Chairman of the National Association of Broadcasters, an umbrella industry association for all Television, Radio and online broadcasters in Uganda.
    • Chairman of Board of Directors of Nile Hotel International, that owns the leading hotel in Uganda, Kampala Serena Hotel.
    • Chairman of Board of Directors of Soliton Telmec Uganda, the leading telecom company in Optic fibre business managing over 80% of optic fibre in Uganda.