Stakeholders in the Out-of-Home (OOH) and locations marketing services industry have been tasked on working collaboratively in creating a robust audience measurement system for the industry to prepare it for the kind of programmatic and related solutions needed to grow the industry.
This call was made from Kingsley Onwukaeme, a Nigerian representative and member of the Planning Committee of the just concluded first in-person World Out-of-Home Organisation (WOO) Africa Forum held in Cape Town, South Africa.
His remarks came on the heels of a bullish assessment of the global OOH industry by WOO President Tom Goddard, who declared that the sector is firmly back on track, with revenue projected to surpass the $36.8 billion mark achieved in 2022, indicating a full recovery from the COVID-19 pandemic.
In his address, Goddard had outlined six key factors that are expected to drive further growth in the OOH industry in 2024 and beyond. They include digital transformation, improving presentation standards and reducing lead times; media ownership consolidation, enabling markets to capture a larger share of ad expenditure; better measurement, building trust and enabling a common trading currency; automation, improving efficiency and enabling programmatic trading; value for money, leveraging OOH’s favorable reach and impact compared to other media; and winning the contest with online advertising, capitalizing on concerns over brand safety, fraud, and fake news plaguing the digital realm.
Onwukaeme, recognizing the significance of these factors, emphasized that for the Nigerian market to fully capitalize on these growth drivers, stakeholders must work collaboratively to establish an audience measurement system for the OOH industry. He highlighted the importance of measurement and data in enabling the success of programmatic and other location-based solutions.
In a similar vein, Onwukaeme who is a critical stakeholder in the Nigerian industry, Founder of the OOH Academy and Convener of the Location Marketing Awards (LOMA), has made an impassioned plea for the World Out of Home Organization (WOO) to host its next Africa Forum in Nigeria.
Making the call shortly after the Africa Forum, Onwukaeme believes that Nigeria’s vibrant and rapidly evolving OOH market presents an ideal backdrop for this influential global event.In making a case for Nigeria’s candidacy, he said, “If you wish to truly understand and engage with the dynamic African market, especially if you have not yet entered our territory, then you have not touched base with the real essence of Africa,” he stated emphatically.
Highlighting Nigeria’s credentials, Onwukaeme pointed out that the country boasts one of the largest and most active OOH markets on the continent. “Our market is experiencing unprecedented growth in the OOH domain,” he said. “Nigeria is a fast-evolving market, leading positive disruption and shaping the future of the industry across Africa. We have what it takes, and more, to host the prestigious Africa Forum.”
