Australia’s outdoor advertising sector will enter a new phase this year with the launch of a new platform that would streamline campaigns among media buyers and sellers.
The Outdoor Media Association (OMA) plans to release the Automated Planning Platform (APP), which will help its members respond to media agencies’ request for proposals. The software system will then allow agencies to check booking confirmations, aside from access to industry reports.
Outdoor advertising firms generally rely on the Measurement of Outdoor Visibility and Exposure (MOVE) standard to determine a campaign’s effectiveness among their target audiences. Some types of projects can be too large for an agency even if they have an in-house team, so they usually contract third-party firms to handle the excess work.
The contractual arrangement may include machinery and equipment, as well as wide-format printing services for billboards. Since nine out of 10 Australians leave their homes every day, it’s not surprising why outdoor ads are a big market with a value of $840 million.
While online advertising has become more popular, agencies and companies will still account for a certain share of expenses. By 2020, the outdoor advertising sector will be responsible for $1 billion of ad spending, or around 7 per cent of the total industry value.
The investments would comprise different aspects of a business from buying new digital printers to research and development of market audiences. In fact, outdoor advertising ranked among the top three media channels in 2017 aside from online and cinema campaigns.
The launch of a new platform for streamlining outdoor advertising campaigns will help different brands to gain more exposure. Imagine someone who sees a creative billboard and mentions it in a social media post, which is then picked up by more people on their news feeds. This is how digital word of mouth works today.