Outdoor Advertising: New Boom or End of the Road?

Stand Up and Be Counted!
Having risen from the ashes of self inflicted retrogression accentuated by the Lagos State Signage and Advertising Agency (LASAA), the outdoor sector is poised for steep growth.
Already the LASAA incident has taken its toll on some operators. Over 60% of them lost about 90% of investments in outdoor sites and business. Some companies with over 200 sites are virtually left high and dry – with nothing. With the resultant sanity in the environment, it becomes difficult to fault LASAA. The fewer boards also invoke the age-old economic law which says “The lower the supply, the higher the price”.
Most ADVAN members who threatened to or boycotted Lagos outdoor operators due to the LASAA induced increase in rates are finding the Lagos market too juicy to ignore. Rather than the lukewarm outdoor scenario of the past, innovation is fast becoming the rule of the game. For instance, progressive minded companies with approvals for a few sites have to leverage innovation and tech savvy products to put each of the sites to maximum use while also charging premium rates for their services.
This is beginning to happen. But there are the majority of practitioners who are still moaning the effects of LASAA. For this class, it is the beginning of the end, except of course, they challenge themselves to become highly innovative in the game of outdoor advertising.
The Lagos situation is not in isolation. Other states are fast taking the Lagos initiative to make the outdoor sector one of the highest income spinners for the various governments. What this implies is that there may not be a hiding place for the empty headed outdoor practitioner! Sounds like an insult? But it’s the truth. A ray of hope for practitioners is that marketers have little else to run to hence outdoors will continue to exist, though in fewer numbers and costlier as already explained.
The current OAAN exco has been mainly blamed for the LASAA debacle. Industry players are beginning to show more interest in who becomes the president of the body. As OAAN heads to another AGM election, there have been rumours of war. This is because the incumbent First Vice President and his loyalists think the position should be automatic while others disagree. God forbid another Yar’dua/Goodluck scenario. The rumours may not likely be the case as the body cleverly circumvented the possibility by a recent constitution review which, among other things, highlights that any contestant to the position must have businesses in at least 50% of the geopolitical zones of the nation. This, therefore, opens the door for all intending candidates to contest for the position. The election is expected to be keenly contested and may the best candidate emerge.
On a lighter note, the industry should ask the incumbent president: Where is OAAN’s beloved poster awards? Perhaps, the LASAA tragedy has left no room for any social gathering? Any hope for the awards before Kole Ademulegun’s tenure as president terminates? Someone needs to tell us.

For the Truly Innovative
Back to the issue of innovation in the outdoor sector; this is for the truly innovative and leading players. In order to properly position companies and operators in the sector, M2 is publishing a special edition on: Leading Players in the New Outdoor Era.
Due consideration will be given to organizations, their revolutionary products and never-say die people. To be part of this landmark review and positioning exercise, call or send text messages or mails to any of the addresses below:

For comment/feedbacks on this column, email babslekan01@yahoo.com or call 08033487815/08082477816.