Global Out of Home Industry Aims to Double Market Share by 2023

Global Out of Home Industry Aims to Double Market Share by 2023, Emphasizes Consolidation and Standardization

The global Out of Home (OOH) industry has successfully recovered from the pandemic, according to Tom Goddard, the President of the World Out of Home Organization (WOO). However, Goddard emphasized the need for the industry to increase its global market share from the current five percent to ten percent by 2030, achieved through incremental one percent annual increases. Key drivers for growth in the OOH sector include reducing the number of sales points and media owners through consolidation, curbing the proliferation of AdTech to simplify processes, establishing common standards and language to highlight the benefits of OOH, and improving audience measurement worldwide. Countries with better audience measurement, preferably entrusted to Joint Industry Committees (JICS), enjoy larger shares of the media market due to trust and transparency.

Goddard announced his intention to step down from his position after another year, in line with WOO’s board rotation policy. The article also mentions that the Congress highlighted various topics such as sustainability, audience measurement, legislation, technology, and diversity and inclusion. A guest appearance by Victor Ivanchenco from Prime in Ukraine, who discussed the impact of the Russian invasion on the OOH industry, received a standing ovation. The article concludes by mentioning WOO’s Sustainability Task Force and its plan to develop a practical toolkit to improve the environmental performance of OOH companies.

The World Out of Home Organization is a global association representing the OOH industry, promoting its interests, and working towards its improvement. The organization’s board members include major international companies and OOH associations from various regions. WOO is open to all companies operating in the OOH sector and reinvests funds in industry issues such as research and organizing an annual international congress.