#tomgoddard

[madstars-festival]

[SPEAKER INTERVIEW] When Technology And OOH Hang Out Together, Great Things Happen - Tom Goddard, president & executive chairman of WOO

Tom Goddard has been president of the WOO(World Out of Home Organisation) since 2017, a worldwide association of outdoor advertising companies that supports and promotes outdoor advertising.

He was also a speaker at this year’s MAD STARS. He is an encyclopedia of out-of-home advertising and one of the drivers of its growth. His MAD STARS topic, Innovation in Out-of-Home Advertising, discussed the potential that technology can unleash.

Q. What were the main insights on which your session was built?

A: Innovation is key to the growth of Out of Home as the media world becomes bigger - thanks to online - but also more complex. Fortunately, we have the means to innovate - via technology - and prove that it works in the exponential growth of digital OOH. Technology is a friend to OOH whereas, for other legacy media, it's a challenge, even an obstacle. 

Q. You have a world view of OOH advertising. Where in the world is it being done especially well?

MAD STARS 2022 Gold Winner - Liquid Billboard / MAD STARS 2022 Bronze, Crystal Winner - GIANT 3D CAT

A: I believe Asia in general, and South Korea in particular, are good examples and leading the charge in many respects. Digital is a key driver in many markets but in others, what we call classic is by far the main channel and likely to remain so in the foreseeable future. But that's the strength of the medium, we operate on two canvasses. Outside the coastal cities classic is by far the biggest medium in the US, still probably the world's biggest national market. India too.

Q. What are the main challenges to OOH now?

A: Growing our global market share from its current 5% or so to 10% and beyond must be the biggest challenge. It's what the medium merits. Within this audience measurement is a big factor, we badly need more consistency. Advertisers demand it, especially for global campaigns. Sustainability, too, is now center stage for advertisers and business in general, as it should be. OOH has a great story to tell but a difficult one to get across, as many of our canvasses are illuminated and using energy. But it compares very favorably, when measured against other media, although we have a lot more work to do.  WOO recently formed a Global Sustainability Task Force to help our members, and the industry to hasten our efforts and achieve Ad net zero in a timely fashion. 

Q. On the other hand, what is great about OOH right now? A: The extremely productive marriage of creativity and technology is unique to OOH. Other media, including online, struggle to use technology to improve creativity and creativity means impact. For most media, technology is a way to improve performance in terms of what we used to call direct marketing - targeting individual consumers, addressable TV for instance - but creativity has suffered, and such ads don't become part of the culture in the way they used to. The impact is therefore reduced. Technology enables digital OOH to produce amazing canvasses which engage and interact with people as well as have an unrivalled impact.  

Q. Are there any exciting things under development for the future?

A: Automation and, to a degree, programmatic are opening a new world for OOH in terms of its place in omnichannel marketing, the key priority for many major advertisers. We know that OOH has an unrivalled impact, what we need to do is ensure our delivery is fast, seamless, and measurable.  

Q. Where does OOH stand in the division of media (vs TV, online, radio, etc) now? Where do you hope it will stand in the media split in five years? A: Online isn't going away but I think advertisers, increasingly, are seeing its limits. And there are some big clouds on its horizon including privacy and concerns about the sheer scope and power of the tech giants. Traditional media like linear TV, print, and radio are clearly on the back foot in this battle. OOH, to a degree, has already undergone its own digital transformation and that should help to increase our market share, taking us to 10% and more. I expect to see this growth achieved by the end of this decade.

Exploring the development of the outdoor advertising market worldwide through various case studies would be insightful. Take a closer look at how the outdoor advertising industry is evolving by examining diverse examples from around the globe.

Source: WOO (World Out of Home Organisation)

We hope to witness more vibrant Digital Out of Home (DOOH) advertisements that captivate hearts by integrating exceptional technology.

We also look forward to your continued interest in MAD STARS 2024, scheduled in Haeundae, Busan, South Korea, in August!

[thomgoddard]

When Thom Goddard met Tom Goddard! 🥳 Or should that be Tom Goddard met Thom Goddard… 🤔 . #Goddard #family #ThomGoddard #TomGoddard #meet #meetup #reunion (at BAFTA) https://www.instagram.com/p/Cc4u41zMNdd/?igshid=NGJjMDIxMWI=

[madstars-festival]

Insights and Trends at MAD STARS 2023: Tom Goddard

Innovation in Out of Home Advertising

If you missed the MAD STARS 2023 conference, you missed a lot of amazing sessions from some of the brightest minds in the media and advertising industry. One of them was Tom Goddard, the president of World Out of Home Organization (WOO). In his keynote speech, he shared his insights and perspectives on the current state and future trends of OOH, the fastest-growing medium in the advertising landscape.

OOH: A Resilient and Dynamic Medium

Goddard began his speech by highlighting the remarkable recovery of the global OOH market following the COVID-19 pandemic, which severely impacted the industry in 2020. He cited the latest statistics from WOO INDEX, showing that global OOH spending reached $36.2 billion in 2022, surpassing the pre-pandemic level. He also projected that 2023 could see global OOH spending surpass $40 billion for the first time, driven by China's rebound and increased demand from other regions.

However, Goddard also acknowledged a challenge that OOH faces: its share of overall advertising expenditure has remained stagnant at around 5% for the past decade. He emphasized the need to address this challenge for the industry to thrive.

He then provided a regional breakdown of OOH spending, showing that North America and Europe are closely matched, with APAC leading the way, even with China's 2022 numbers lagging behind due to regulatory issues. He also gave insights into South Korea's OOH market, which mirrors the global trend of post-pandemic recovery. Although there has been a slight drop in the percentage share of total media spend, South Korea's 6% still outperforms the global average.

DOOH: A Game-Changer for OOH

Goddard then shifted his focus to DOOH (Digital Out of Home), which he described as a game-changer for OOH. He showed that global DOOH revenue continues to grow, now accounting for 37% of overall global OOH revenue. He also showed that digital penetration in major regions ranges from 30% to 40%, with Africa and LATAM lagging behind.

He praised South Korea's DOOH market, which has seen significant growth in recent years, aligning with the global forecast of 36% for 2023. He also highlighted South Korea's impressive market rankings, ranking 7th in the world and 3rd in APAC in both OOH and DOOH.

The Future of OOH: Driven by Innovation and Creativity

Goddard concluded his speech by highlighting the positive dynamics driving the OOH industry forward. These include digital transformation, media ownership consolidation, improved measurement, increased automation, programmatic channels, data analytics, challenges in the big tech world, and a resurgence of creativity.

He showcased some outstanding examples of creative campaigns in OOH, emphasizing the medium's unique ability to capture audience attention and deliver impactful messages. He also shared some innovative technologies and formats that are transforming OOH, such as interactive screens, facial recognition, augmented reality, holograms, and more.

Goddard wrapped up his keynote address by reaffirming OOH's relevance in the digital age, its adaptability to change, and its potential to capitalize on the challenges faced by big tech. He stressed that the creative community's renewed interest and ongoing innovation would continue to fuel the sector's growth.

Conclusion

Tom Goddard's keynote speech at MAD STARS 2023 was an inspiring and informative session that shed light on the ever-evolving world of OOH advertising. He provided a comprehensive overview of the exciting developments and trends in the OOH industry and left the audience with a sense of optimism about its future.

If you want to learn more about Tom Goddard and WOO, you can visit WOO's website (www.worldooh.org).

In closing, as we wrap up Tom Goddard's enlightening presentation, we encourage you to stay tuned for more captivating sessions and insights at MAD STARS 2023. There's plenty more to anticipate and explore in the world of marketing and advertising!