The Out-of-Home Video Advertising Bureau has added three new out-of-home companies to its growing membership, including Arena Media Network, CBS Outernet and Zoom Media. In a little more than a year, OVAB, formed to advance the out-of-home video segment to the
advertising community, has grown to represent more than 26 member companies.
Out-of-home video is one of the fastest-growing segments of the out-of-home industry, estimated at about $1.3 billion. With hundreds of companies entering the space, the founding companies of OVAB saw the need for an organization to concentrate on the space.
"Electronic out-of-home advertising is not some futuristic fantasy. It's here," said David Verklin, the former CEO of Aegis and a member of the OVAB Agency Advisory Board.
As part of its mission, the organization, under new president Suzanne Alecia, on April 18 presented Audience Metric Guidelines to the media research committee of the American Association of Advertising Agencies. The guidelines, developed in consultation with OVAB's Agency Advisory Board, address several issues that have made the nascent new out-of-home segment difficult to plan and buy, such as using a common language to define audiences and acceptable measurement currencies to evaluate the volume and size of out-of-home video networks compared with other media.
Based on feedback from agencies, advertisers and its membership, OVAB hopes to publish and distribute the final document in June.