The Out-of-Home Video Advertising Bureau (OVAB; www.OVAB.org.) formally launched January 29th. Formed and funded by industry leaders at 10 companies, the organization will according to its launch statement, "help provide standards and best practices for the burgeoning out-of-home video advertising industry and foster collaboration between agencies and out-of-home video advertising networks. OVAB was formed by a majority of the largest out-of-home video advertising networks in order to eradicate adoption barriers for the medium."
OVAB is membership-based and is currently seeking to expand its base of participants. OVAB already has a core group of members led by Gannett's Captivate unit and Premiere Retail Networks, operator of Wal-Mart TV and other digital advertising networks based in retail outlets. The other member are Adspace Network, Channel M, ClubCom, Office Media Network, Inc., Reactrix Systems, Inc., Simon Brand Ventures, The Hotel Networks, and Transit Television Network.
"One of the primary goals of OVAB is to help establish more collaboration between out-of- home video advertising networks and advertisers, in order to identify ways to make it easier for advertisers to plan, buy and evaluate the effectiveness of these mediums," said Mike DiFranza, president and general manager of Captivate Network. "As the industry continues its fast-paced growth, we need to ensure that the appropriate standards and industry research is in place to help foster both the development and adoption of these networks."
DiFranza will serve as the chairman and acting president, while the group actively recruits for a full time president. Gerry Jones of Hotel Network will serve as the group's treasurer, and Mike Quinn of Premier Retail Network will serve as secretary.
According to OVAB's press release "Similar to the way the Interactive Advertising Bureau assisted in the evolution of online advertising, the organization will serve to encourage best practices within the industry, referenced by out-of-home networks, advertising agencies and advertisers. Currently, OVAB is in the recruitment phase for an advisory board designed to collaboratively work with clients and agencies to identify issues relevant to the adoption of out-of-home advertising."
A recent report on out-of-home digital advertising networks from research firm
Profitable Channels found that marketers are investing $1.2 billion of their national media budgets in out-of-home digital advertising. The report also noted that the space is growing rapidly, at a rate of about 10 percent a month.
For more information on membership to OVAB, contact Mike DiFranza at email@example.com.