OOH witnessing boom despite decline in traditional advertising – Ashaolu
By Seun Johnson
Despite the rapid decline of traditional advertising channels due to the rise of digital media, Nigeria’s Out-of-Home (OOH) advertising sector is experiencing significant growth.
This was revealed by the Managing Director of Four Pulley Limited, Mr. Lanre Ashaolu during an exclusive industry conversation with MARKETING EGDE at his office, Ikeja Lagos.
According to him, Out-of-Home is one of the oldest means of communication in the world and while other traditional channels are declining, the industry is witnessing a boom.
Urging the practitioners to be professional and ensure quality service delivery, Ashaolu cited growing trend of digital marketing as the only challenge that is currently confronting the sector and this has eaten into the budget of traditional channels.
He said, “The only challenge we face is the digital marketing space, which is growing day by day, eating into the budget of traditional channels. Now what do we need to do to remain relevant and to stay ahead of the game? I simply tell you that we just need to remain professional. We need to remain focused. We need to have our innovative ideas on.
“We also need to see how to blend in digital marketing to Out of Home so that we can propagate what we do to the rest of the world and our consumer audiences. Propagating and adding digital marketing to Out of Home industry is very much viable, valuable and really working. This is because, what happens in the environment is what feeds activities on the digital space.”
Drawing correlation between Out of Home and online marketing space, Ashaolu stated that everything that is online is an abstract from what happens in the real world, noting that OOH is part of the environment.
“When we capture activities in the environment, including Out of Home campaigns, we need to find a way to blend it into digital marketing initiatives so that we can further propagate it to the rest of the world to see that OOH is there as a strong medium to deliver this campaign promises to brands and their customers,” he said.
According to Statista projection, the Out of Home advertising market in Nigeria is expected to reach $174 million dollars in 2025. The growth is believed to have hinged on the growing middle class and urbanisation which has attracted both local and international advertisers.
The industry is, however, expected to grow in accordance with changing customer preferences, new trends and favourable market behaviour. The report further revealed that the industry is expected to be the largest market in 2025 with a market volume of $118.40 million.
RECOMMENDED ARTICLES
Comment
No comments found.