OOH will witness a major boost, notably in the DOOH space: Chandramouli Reddy
Chandramouli Reddy, UrbanIQ, talks about disruptions in the OOH market, how OTT platforms are becoming major investors in the advertising space and more
Marketing and advertising are always about disruptions, according to Chandramouli Reddy, Co-founder and CEO, UrbanIQ. Data-driven audience buying is going to be the big disruption entering the Indian Out-of-home (OOH) market.
Bengaluru-based, UrbanIQ, is a 10-month-old start up. They have developed a platform for Digital Out-of-home that brings asset owners, media agencies and brands into a common ecosystem, streamlining the process of buying, selling and measuring. The start-up has a mix of media and tech experience and believes that the SaaS platform will fundamentally change the way media professionals plan, consume and buy DOOH media. Their focus markets are India and the US.
Reddy says, “Deep learning, AI-assisted tools and adaptation of Digital Out-of-home (DOOH) will make it a more inclusive media in India and also due to the fact that DOOH is affording marketers some never-before advantages like delivery-based precision targeting, reach-based pricing and analytical data. Hence, we are going to see a lot of brands opting for OOH and particularly DOOH in the not so distant future.”
Along with Reddy, the company is led by Sairanjan Mishra, Co-founder & CTO, Brion Roberto, Co-founder & COO, Venkata Varadarajan, Co-founder & CMO and Jay John Koruth, National Sales Director, India.
Reddy points out that there has been an increase in investment in data and technology, but traditional OOH has been growing at a steady pace. He states that OOH has been growing by 6-8 per cent year on year. “Traditional OOH is largely driving spends in the advertising space since it has been there for many years. And based on the fact that OOH medium as such is a visibly impactful medium (large format billboards) no one questions its merits.”
With the big cricket tournaments like the IPL and World Cup, the usage of digital advertising has upped the charts and grabbed eyeballs. Reddy says that digital advertisers have been one of the biggest spenders and would be adding a lot to the advertising pie during such matches going forward.
Speaking about the recent investments in government infrastructure and how it will help in the development of OOH in India, Reddy says that there will be great chances of development. “A lot of rules and regulations are also laid out by the government, in this regard. And with the focus on smart cities as the next big thing rolling out across the country by the government initiatives, OOH will definitely witness a major boost and more so in the DOOH spaces.”
The OTT space in India is booming and a lot of OTT players are now heavily investing in OOH platforms too. When asked how aggressive outdoor advertising by Netflix, Prime Video and other OTT players is pushing the growth of India's OOH industry, Reddy says, “A lot. And this is only the beginning. A lot of these OTT platforms are also investing heavily on content and each is vying for increasing the subscriber base and the time spent on their platforms. And with the launch of new shows and originals in the respective OTTs, OOH is the best medium to target the audiences while they are on the move. The OTT players can run an omnichannel campaign (Digital+DOOH) using the UrbanIQ platform.”
UrbanIQ aggregate digital display advertisement spaces across any vertical, including the likes of digital outdoor billboards, taxis, shopping malls, airports, train stations etc. They also make these assets available to brands and agencies for easy search, plan and buy. The company provides right analytics to give insights on ad effectiveness, context and attribution.
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