The founding of a European chapter marks the first overseas expansion for the industry organization, which was founded in the United States in 2007 to create an audience metric for use as currency in out-of-home video ad sales. Likewise, the European chapter's first mission will be creating uniform standards for out-of-home video measurement and transactions.
Among the founding members of OVAB's European chapter are out-of-home video networks, ad agencies, ad clients and hardware manufacturers, including Neo Advertising, Invidis Consulting, ECE Flatmedia, IBM Deutschland, Philips, NEC Display Solutions and Minicom Advanced Systems Ltd.
Suzanne Alecia, the president of OVAB, said the establishment of a European chapter will make the medium more accessible for international advertisers. "Working with this group will continue to bolster our efforts within the industry, making it easier for the international advertising community to evaluate, plan and buy digital and video advertising networks."
A recent report from Screen Digest and Goldmedia predicts that the digital out-of-home advertising market in Europe will quadruple in size over a five-year period, from about $200 million in 2007 to over $800 million in 2012, despite the current economic downturn.
A number of global outdoor advertisers have already bought stakes in the European digital out-of-home market, including Clear Channel Outdoor, CBS Outdoor, ECE, JCDecaux, Metro Group, Posterscope and the Interpublic Group.
The OVAB European board is represented by Dirk Hulsermann, chairman, Ronni Guggenheim, vice chairman, and Richard Malley, treasurer.