Boost in digital advertising increases usage of OOH platforms – Oyekan
By Felicia Nwosu
Babatunde Oyekan, the Publicity Secretary of the Out-of-Home Advertising Association of Nigeria (OAAN), has confirmed, in an exclusive interview with MARKETING EDGE, that a considerable increase in digital advertising has given rise to the usage of Out-of-Home platforms. He added that this has played a significant role in the growth witnessed by the sector, while noting the need for the trend to continue as it signifies better days and greater development in adspend.
Oyekan explained that the trend witnessed across the global advertising market, which has shown great exploits and increase in adspend, clearly indicates that 2023 will witness more brands coming on board for both digital and non-digital boards.
Recalling the business outlook of the outgone year, the OAAN publicity secretary maintained that the outdoor advertising sector witnessed a significant improvement compared to the year before, confirming that the sector also got a fair share of the adspend.
“OOH has attracted a higher percentage share of advertising in Africa as a whole in comparison to other world markets. Outdoor has increased considerably than television, except for radio that has remained stable. The result of the increase in outdoor budget is as a result of digital media. Outdoor budget in most African countries has increased significantly to about 12 – 13%. It has increased and improved significantly since we navigated the COVID year.
Giving a projection of the sector for the year, the marketing expert also concurred with other industry professionals that the year looks bright on every side.
“KPMG recently reported that outdoor advertising has witnessed 11 percent annual growth rate (CAGR) over the past five years. If the trend continues, this advertising sector will continue the upward growth trend in 2023.There is going to be a significant increase in terms of revenue generation this year. And most practitioners are going to make a considerable profit if the market and economy is stable. The adspend will definitely increase in comparison to that of last year
“Moreover, the year 2023 which happens to be an election year in Nigeria will have more than 75% of our platforms engaged with political campaigns across the country in the first quarter of 2023. My only worry is the non-tolerance by opposing political parties in various states and destruction of outdoor structures. But in all honesty, it’s going to be a rewarding year,” he said.
Reaffirming the prospect of the year, the outdoor specialist decried the lack of symbiotic relationship between the government and members of the out-of-home advertising professionals in recent times.
“Personally, I don’t expect anything remarkable outside the fact that OAAN members will make good revenue from their hoardings that have not had any engagement for long. Outside this, I really don’t expect anything. Each successive government sees OAAN or outdoor business as a cash cow and they are ready to milk the cow dry. They have no respect for the business; they use the medium and dump it after the election.
“They don’t see the investment put into it. Despite all efforts to make government officials see the importance of the medium and what we contribute to the economy, we are never treated fairly. So I see nothing exceptional from the incoming political dispensation both at the state and the federal levels,” he said.
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