In order to reach its full potential, the digital out-of-home media industry needs to look beyond out-of-home. DOOH companies must extend their reach across a range of media platforms. By expanding beyond the silo of out-of-home, these emerging networks give themselves the best opportunity to grow into complete media properties.
Thanks to the current shift in content creation, distribution, and consumption, emerging media companies stand to reap the greatest gain by turning old business models on their heads. It’s important to remember; however, that there are elements of the old guard that are worth preserving and building from.
I’m not here to echo the death of newspapers or other forms of traditional media. I think we can all agree that newspapers, magazines, TV, etc. aren’t going anywhere. As we enter the age of real-time news and constant communication, they may not look the same, behave the same, be distributed in the same manner, or rely on their current business models; but it’s illogical to think that pillars of the media industry will just vanish. Just as companies in a vast array of industries have had to adapt in order to stay relevant and survive, so too must traditional media companies reimagine themselves in a world of universal publishers and empowered consumers.
In the same way that traditional media companies must expand beyond their once safe silos of operations, digital OOH networks must not fall into the trap of fencing themselves off from other media outlets and content models. Rather than solely focusing on the DOOH platform, which can bring stars to they eyes of the most seasoned entrepreneur, these organzations must embrace the opportunity to become 360 degree media companies.
The disclaimer here is that I’m not promoting a DOOH media company launch a radio network or newspaper; or create business lines that are incongruent with the organzation as a whole. But, what about launching a podcast series or a digital newsletter? For niche place-based networks in doctors offices and veterinary clinics, distributing content through media platforms like these can serve to spread the reach of the network’s brand. Cross-channel distribution can increase a DOOH network’s status in its respective vertical, and create opportunities for its content to be discovered by a broader audience.
The financial barriers that once restricted a new media company’s ability to reach a mass audience are now gone. You don’t need radio towers, satellites, or large infrastructures for distribution. A blogger, an upstart online magazine, or DOOH media network all have the opportunity to become pillars of our media future. To do so, they need to be ready to adapt and expand at a moment’s notice.
