Step out for a stroll around the city, and you may find that digital out-of-home (DOOH) is on the rise. With a growing variety of DOOH inventory becoming available, it’s a race to build reliable programmatic pipelines to further push the development of this market. As to be expected, the standardization of this rapidly growing medium will likely be a daunting task, but one that must be tackled nonetheless- and soon. Remember the ol’ classic proverb; with great inventory comes great opportunity? Well if media owners and publishers are to begin making the most of this exciting new territory with real-time bidding (RTB) we’re gonna need a spec and blueprints- pronto!
So what’s up for grabs? Anything from giant video walls to screens on taxi cabs! What’s more, DOOH is on the move. Think back to this blog when, in the not-too-distant future, you’re scrolling on your phone in the back of a cab, and a geo-targeted ad for a shop you’ve just driven past pops up. But that’s later and this is now, where most of the DOOH targeting solutions are still fixed around the city in the form of billboards and bus-stops etc. so let’s not get too ahead of ourselves.
So yes, plenty of opportunity today, and in the days and years to come as we begin to untangle the complicated web of programmatic standardization- because if we look at the numbers, even without a clear blueprint, programmatic has already quadrupled with DOOH spending going from 16% in 2022 to an estimated 25% by 2024. In the words of PQ founder and CEO Patrick Quinn; “We expect the digital out-of-home media industry to continue its double-digit growth in 2023, powered by a number of positive developments fueling innovation, creativity and further expansion”. Fast improvements in programmatic advertising paired with increasingly accurate ROI measurements and good tech marketing (i.e., Celtra) are further intensifying this progress.
Why is Celtra excited about it?
As a company that champions creativity and innovation, we are certainly excited about what’s on the horizon with DOOH. IAB Tech Lab’s new standards will allow media owners and operators to run out-of-home digital ads like never before. With less focus on infrastructure and more on creativity, the potential for expansion is huge. We may even be so bold as to compare it to the snowball effect of innovative formats and features we saw with the introduction of Rich Media. With talks of new guidance for starting OpenRTB bid requests to account for the screen/display size, we may begin to see a more universal way of conveying screen size, which will lead to a whole flurry of creative enhancements.
So, we’re keeping our eyes and ears to the streets. Better get on the bandwagon early because once IAB has standard sizes, innovation within those canvases will be through the roof!
Watch this space with Celtra
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