The new metric for out-of-home video viewing is a crucial step in making the medium more accessible to media planners and advertisers, a number of execs working in the out-of-home space recently agreed. They also said out-of-home networks need to go beyond the common metric, building their own custom measurements (in partnership with third-party research firms like Nielsen and Arbitron) to highlight the particular qualities of their venues and delivery.
When Aegis Group's Posterscope division, the largest out-of-home media services network in the world, began seeing an explosion of new, digital media offerings, it saw an opportunity for rapid growth. Enter Hyperspace. No, not the warp speed reference used in science-fiction, but the name of a new Madison Avenue shop devoted to emerging out-of-home media opportunities.
The media blender's latest twist has big advertising and media agencies acquiring place-based networks, adding publishing and distribution to their portfolio of capabilities, according to Lon Otremba, the CEO of Access 360 Media, which combines place-based video in retail venues with online and mobile delivery. Noting that "the agency model is breaking down," Otremba said big agency owners are picking up place-based video networks as a way of "offering audiences and services bundled together," marking a new approach to vertical integration of media.
So-called "alternative" out-of-home ad spending, including buys on place-based video networks and digital billboards, will be among the fastest growing ad-supported media over the next few years, and will begin to rival traditional outdoor advertising by 2012. That's the view from private equity firm Veronis Suhler Stevenson, and consultant PQ Media, which this week released the 22nd edition of VSS' annual Communications Industry Forecast.