Print continues to burn and the crashed TV advertising is being resuscitated by the agencies. Radio continues to hang in there. Media companies in these spaces are investing heavily in digital to grow their revenues albeit the results are not promising yet.
Media consumption habits have changed. People prefer a quick news fix via social media or other online channels. Similarly, video-on-demand platforms and podcasts have seen their stocks rise.
Regional TV leaders like Starhub and Astro have launched on-demand applications to stay relevant in the “Netflix and Chill” era.
Ms Lin Shu Fen, Head of Entertainment & SmartLife, StarHub, observed, “In our highly-connected nation, we recognise that consumers are increasingly accessing a wide variety of digital content across multiple devices."
Similarly, Liew Swee Lin, Astro’s Chief Commercial Officer believes “the future of TV lies in personal TV screens.”
Meanwhile, the rise of public screens – digital billboards – has transformed one of the oldest forms of advertising.
Out of Home (OOH) media is the only traditional media to embrace digital and grow consistently.
In the largest advertising market (USA), OOH Media spend will equal Print Media spend and surpass it from 2018. Closer to home, Asia Pacific is the fastest growing outdoor advertising market.
See, as smartphone and internet usage increased, consumers became more mobile. They spent more time outside their homes.
Digital has been a boon for outdoor advertising. Increased consumer mobility is one of its long-term growth drivers. Recent studies have shown that smartphone users are engaged by outdoor ads. They search for more information online after seeing these ads.
Even tech companies are going out-of-home. Apple, Google, Twitter, and Snapchat are among the highest spenders globally. In the US, almost 25% of OOH spends are being contributed by these tech leaders.
Outdoor advertising is digital’s final frontier. The arrival of digital screens is only the beginning. Programmatic software and audience location data have the potential to transform every type of digital signage into a source of advertising revenue.
That’s billions of screens – in malls, retail outlets, restaurants, office buildings, vehicles, and out-of-home. Once connected, these will form the Smart Media of the future Smart City.
Our vision is to enable Smart Media and augment the outdoor experience. Outdoor digital screens connected to the internet and powered by audience data can become just as intuitive as the smartphone – think Minority Report-style content.
This vision was recently validated when we were identified as one of the top 50 start-ups in the world. As we expand in Asia, we are on the lookout for partnerships with organisations who share our beliefs.
We believe there are #NoBoundaries, so whether you’re a technology company, media agency, potential client or investor, get in touch and let’s collaborate.