Singapore – Location Media Xchange (LMX), the supply-side technology arm of the Moving Walls Group, has announced the launch of a complete Revenue Management suite for Out of Home (OOH) media owners. The product revelation happened as the industry’s leading stakeholders converged at The World Out of Home Congress Toronto 2022. The company is offering a no-obligation 90-day trial for media owners to experience the platform.
OOH’s global renaissance has continued into 2022 after sharp drops during the peak of the Covid-19 pandemic. Several factors, including increased travel activity, and the growing interest in Programmatic Digital OOH advertising, contribute to this.
OOH media owners now handle multiple sales channels – direct brand relationships, agency-managed spends, programmatic or automated media buys, and even online campaign bookings. Allocating inventory in an efficient manner is critical because unlike digital publishers who own virtual space, OOH media owners own physical assets that consume fixed costs like electricity, internet fees, maintenance, and more.
The expansion of OOH buying methods also means that the inventory is now consumed in a variety of ways – loop based, event based, audience based, impression-based, and so on. Maintaining up to minute availability information, understanding utilisation, and prioritising sales channels is just not scalable if done manually.
According to Mandakini Negi, co-founder of Moving walls and global head of LMX, “It is difficult to improve what you cannot measure. OOH media today is bought and sold in several ways and media owners who have a handle on inventory utilisation and demand trends across all their media sites in real time will be able to make decisions that improve their revenues.’’
The LMX Revenue management suite solves this by providing an online platform that connects traditional, programmatic, and other forms of campaign booking information in one place. The platform seamlessly connects to native and third party applications like the content management system or the accounting system by the media owner.
Gautam Bhirani, MD of Eyetalk Media Ventures India, commented, “Our network of screens spans across multiple locations. Just as the content on these screens is managed centrally, we require a system to understand live availability, build proposals, and accept campaign requests in an automated manner. The LMX suite does all of this from one application.”
Meanwhile, Eddie Song, MD of Laguna De Bay Malaysia, says that Integrating DOOH screens into the programmatic ecosystem is just the first step. He adds that just like digital, they need to make sure their inventory is visible and accessible to multiple demand partners. LMX Connect provides its network with the ability to transact with omnichannel and specialist Demand Side Platforms locally and globally.
LMX already works with more than 200 media owners across the globe including Southeast Asian markets namely Singapore, Malaysia, Indonesia, Thailand, Philippines, and Vietnam. The platform supports all kinds of media owners who use it to manage different parts of their business.