Outdoor sector in Nigeria billed N30bn annually, says Oborgu
An Outdoor advertising specialist, Ugochukwu Oborgu, has given fresh estimates that total billings in Nigeria’s Outdoor advertising sector stands presently in the neighborhood of N30billion annually.
Oborgu Chief Innovation Consultant at Audience and Brands Consulting Limited, frontline Out-of-Home advertising solutions company is of the opinion, however, that the figure precludes activities of unregistered and illegal practitioners who wield sizable share of Nigeria’s outdoor advertising market.
Speaking in an exclusive interview with MARKETING EDGE, the company boss observed that the outdoor industry in Nigeria was fast evolving, adding that the future was bright, judging from effects of the ongoing digitalisation process.
According to him, “with the digitalisation process, brand communication was becoming highly interactive and the way it’s going, we would see establishments coming up with ways through which we can actually measure the extent of investments in terms of returns on awareness using out-of-home channels.”
He noted that the industry would keep evolving, pointing out that “as you know, where we are today is not where we used to be. Right now, there is a kind of convergence between what they call traditional and new media, and you can see digital coming into play. Unfortunately, a lot of brands have wasted so much money on digital advertising.
“As technology evolves around creating awareness for brands, out-of-home will also keep improving over the time. So, we are only going to say what next in terms of that improvement and how technology will re-write the history and reposition out-of-home in the years to come.”
Commenting on the challenges confronting outdoor advertising practice in the country, the company boss highlighted among other things, ineffective regulations, political considerations and the various economic interests that were already beginning to have negative effects on professionalism and profitability in the business.
Other challenges of the industry he highlighted include trend by most state governments in the country in establishing state regulatory agencies on advertising, multiple level of taxation by different governmental agencies and constant demands of various community youth associations.
He, however, commended the initiatives of the industry regulators including Outdoor Advertising Association of Nigeria (OAAN) and the Advertising Practitioners Council of Nigeria (APCON) in sanitising the industry and ensuring that quality standards were maintained in outdoor practice.
RECOMMENDED ARTICLES
Comment
No comments found.