As Aristotle famously said, “the whole is greater than the sum of its parts.” This particularly rings true in light of the potential acquisitions announced in Out of Home (OOH) this month, with oOh!media’s bid to buy Adshel*, and JCDecaux’s bid to acquire APN Outdoor*. Despite these shifts, from my perspective, this has not changed our industry motto that collaboration is key.
Industry unity is more important than ever
One of the roles of the OMA is to build and maintain systems that keep all members engaged, as each member plays a part in making the industry what it is today. The OMA is an agnostic cog in the wheel that drives the industry forward, ensuring that the ongoing challenges of regulation are addressed while making the most of the opportunities that come from technology, and playing a part in growing market share.
A great opportunity to grow
I asked my colleague, Nancy Fletcher from the Outdoor Advertising Association of America, who has seen her fair share of consolidation, to share her thoughts on the potential changes to the Australian industry. She offers this, “while competition is alive and well within the OOH medium, industry consolidation can enable more effective OOH competition with other media, particularly digital media and TV, which helps the entire OOH industry as global ad spend migrates to digital. Similarly, consolidation gives OOH a shot to pitch the biggest marketers and their agencies; when they buy, they buy the whole OOH medium.”
Envy of the world
As we have seen this month, change is inevitable. I began this month discussing this issue in some depth with the global industry at the international OOH association congress, FEPE. There, I was able to witness the high regard held for the Australian industry, and the camaraderie among the OMA members, which I believe is the secret sauce to our success – we stand united. Our position is unique and not often experienced in other markets. Despite the tsunami of change that may come our way in the coming months, I end this month with the certainty that the Australian OOH market will continue to deliver a great product to advertisers, and play a significant role in supercharging our smart cities.
– Charmaine Moldrich
*Both acquisitions are subject to the ACCC’s approval.