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 announcement 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, growth of digital signage, and the growing interest in Programmatic Digital OOH advertising are contributing to this.
Efficiently Managing Multiple Demand Channels
OOH media owners now handle multiple sales channels – direct brand relationships, agency-managed spending, 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.
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.
According to Mandakini Negi, Co-Founder of Moving Walls & 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.”
LMX already works with more than 200 media owners across the globe including Southeast Asian markets (Singapore, Malaysia, Indonesia, Thailand, Philippines, Vietnam), India, The Middle East, Sub-Saharan Africa (Nigeria, South Africa), and Latin America. The platform supports all kinds of media owners who use it to manage different parts of their business.
According to Gautam Bhirani, Managing Director, Eyetalk Media Ventures (India), “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.”
Similarly, FC Media (Morocco) uses LMX to provide measurement for their residential screen network “Accountable media channels build trust and therefore attract more spending. As the media owner, no one should know more about our sites’ performance than us. LMX Measure enables us to provide campaign forecast and delivery metrics beyond just the ad plays,” says Saad Bencharef, Directeur du Patrimoine at FC Communication.
Meanwhile, Eddie Song, Managing Director, Laguna De Bay (Malaysia) says that Integrating DOOH screens into the programmatic ecosystem is just the first step. “Just like digital, we need to make sure our inventory is visible and accessible to multiple demand partners. LMX Connect provides our network with the ability to transact with omnichannel and specialist Demand Side Platforms locally and globally.”
Finally, for digital signage, the content management system (CMS) is the heart that keeps it functioning, says Victor Wong, Founder and Managing Director, Ledtronics (Malaysia). Today’s DOOH ad serving requirements go way beyond just scheduling creatives. There are creative rules, verification, and programmatic integrations involved too. The LMX CMS fits the bill as it is already natively connected to the deal acceptance, creative approval, and inventory management features of the platform.”