NEW DELHI: As the out of home (OOH) industry struggles to get back on its feet, Bright Outdoor Media has already come up with plans for the festive season. Bright Outdoor Media CMD Dr Yogesh Lakhani is optimistic that the OOH industry will pick up soon as people make the maximum use of festive season.
With Unlock 3.0 and relaxations given by the government, there has been a slight improvement. Lakhani opines, “The coming phase is a festive phase. Brands have started to invest in OOH advertising but it is still minuscule of what it would have been without Covid2019.”
The pandemic caused several hurdles for the OOH industry. He adds, “For three months there was zero revenue. All the hoardings in MMR were taken by MCGM for COVID2019 awareness. Traffic was almost zero. While the revenue remained a big zero, the expenses continued. The government hasn’t given us relaxations in taxes. On the contrary, it is charging us even for the lockdown period. It has become a matter of survival for some of the hoarding providers in the industry. We, at Bright, stand in solidarity with other OOH providers in this unprecedented circumstance. However, slowly and steadily the traffic is returning on the roads but, as per reports, 50 per cent of the people will still avoid travelling unless urgent. With only 10 per cent workforce permitted, fewer vehicles are on the streets.”
With no movement, he says that the industry saw a 20 per cent drop as only essential service people were allowed to travel during the lockdown. Lakhani shares that the coming two quarters are extremely important for the industry and festivals are the only hope.
“Brands have started to come back but the rate of purchase has drastically reduced. We are eyeing for a very big Diwali as the marketing spends of all other festivals will also be used during that time. Movies will hit theatres in the coming few months. The big-ticket films are due. Bright shall make a change rather than asking for change from others. We are providing a 30 per cent discount and are ready to sit across the table with the clients and get them the best value and offer value additions to their spends and power them to revive as early as possible to bring the economy back to normal,” he shares.
With shopping malls gym and other spaces opening up, Lakhani is optimistic that categories including entertainment industry, pharmaceuticals, online services, educational institutions and real estate will revive and avail OOH services.
