SINGAPORE - Moving Walls touts its new online platform for the DOOH (digital out-of-home) sector, launched last week, as Asia’s first programmatic booking solution for digital and static OOH media assets.
According to company, 28 media owners of over 2,000 digital billboards in six Asian countries—Singapore, Malaysia, the Philippines, Indonesia, Thailand and India—have already agreed to trade their inventory on the platform, including Singapore Press Holdings and MediaCorp.
The platform, called Moving Audiences, lays claim to being the first in the region to allow media buyers to plan and buy timeslots for DOOH billboards across borders. It uses an advanced algorithm which links the screens to determine which are available at what time and at what price. Media owners will be able to see which of their billboards are taken up at any time.
In conjunction with its launch, Moving Audiences announced it is offering US$20 million of billboard space across the region through its 'The Great Outdoor Digital Sale' this week. Media buyers will enjoy up to 65 percent discount to rack rates for advertising space booked for 2017.
Boost to traditional media
The company claims that the platform will be “a major catalyst” to invigorate the traditional media sector, which has witnessed a decline in advertising in recent years. Despite the “digital onslaught” however, OOH media in Asean and Asia is expected to continue growing.
Based on a 2015 PwC report, the OOH advertising market in Singapore, Malaysia, Indonesia, Philippines, Thailand and Vietnam will rise from US$944 million to US$1.27 billion in 2020. The Indian market will rise from US$349 million to US$545 million.
Srikanth Ramachandran, CEO of Moving Walls, said that driven by the growth of digital displays, the global market for outdoor advertising is poised to reach US$50 billion by 2020, with the Asia Pacific region becoming the its largest and fastest growing market.
“Our platform brings digital efficiencies and measurement standards to a form of media that has been in the dark for too long,” he added in statement. “We look forward to leading this OOH revolution in Asia.”
In addition, the platform seeks to set industry standards in the way OOH media is measured, as there is currently no universally accepted system. By uniting media owners across the region, it encourages a transparent and efficient outdoor advertising trading system.