Digital Out-of-Home (DOOH) advertising is seeing unprecedented growth in New Zealand. A growth Lumo hopes to capitalise on with the inking of a global partnership that will see new technologies introduce the country to programmatic DOOH.
Lumo, has announced a multi Supply Side Platform partnership with global Digital Out-Of-Home (DOOH) tech players Vistar Media, Broadsign and Hivestack.
A move that Lumo co-founder and CEO Phil Clemas says will connect premium, large format outdoor inventory to buyers who wish to transact DOOH programmatically across the network.
“With digital attracting more than 64% share of all New Zealand OOH revenue, its timely that DOOH media suppliers want to seek new ways to improve the way in which agencies and advertisers view and buy their media,” says Clemas.
According to Clemas, the channel saw a 36 percent increase in revenue in 2019. “This announcement couldn’t come at a better time with the DOOH market continuing its impressive growth in New Zealand,” he adds.
Matt Bushby, Hivestack’s Managing Director ANZ & SEA believes that digital OOH has much more in common with its digital cousins. He notes that the channel still transacts in a very location specific, loop-based way. “We’re seeing real momentum building amongst buyers, looking for an option to purchase DOOH media where and when their audience is available. The great news is that the technology and data are now available for DOOH networks like LUMO to start exploring this.”
Traditional DOOH sales sees much time being spent on back-and-forth calls and emailing between advertiser and outdoor media owner to negotiate rates, audience targeting, manual scheduling of campaigns and other variables associated with specific DOOH placements.
Programmatic DOOH automation aims to remove many of these factors. Instead, media buyers are able access the likes of Lumo’s network and book the screens they want, when they want – with all the stats readily available.
“Most DOOH vendors are either thinking about or ready poised to meet the rapidly growing enthusiasm for this new trading platform. But right now, it’s about working collaboratively to establish a set of rules and standards that will help us deliver greater consistency and higher delivery performance for our clients,” says Clemas. As such, Lumo has joined IAB NZ which has a wealth of experience around the integration of programmatic trading.
Once the integrations are complete, Lumo will activate limited inventory programmatically alongside direct, tenancy buys that are currently standard in the New Zealand market. Tenancy buys will remain as an available investment tactic for advertisers who still wish to deliver guaranteed broadcast DOOH strategies.
“We want to fuel the growth of the entire digital out-of-home industry, and providing a seamless way for digital buyers to transact is the key to attracting new budgets into the space,” says Ben Baker, Sales Director, ANZ, Vistar Media.
“OOH is built on strong credentials including real world existence, visual impact, broadcast reach and brand opportunity. When combined with our tech-smarts and quality, our screen locations plus the flexibility technology brings, there’s no doubt we will continue to influence demand and value. The difference this new opportunity presents is that a client’s DOOH investment from anywhere in the world, will be faster to execute and more efficient, based on real time audience delivery and predefined outcomes,” Clemas says.