Outdoor advertising is a popular way for businesses to increase their visibility and brand awareness, as it allows them to reach a large audience in a relatively short amount of time. It is also a cost-effective form of advertising, as many outdoor advertising options can be purchased for a relatively low price compared to other forms of advertising.
To expand on the future prospects of this niche, Yogesh Lakhani, CMD of Bright Outdoor Media Limited sat down with ET Insights for a quick chat. Edited excerpts:
1. Your company recently released an IPO. Can you please elaborate on that?
A: Yes, it’s my dream come true as we wanted to be the first-ever out-of-home (OOH) company to go public and have an IPO. By the grace of god and the blessings of my parents, employees, friends, and all, the IPO has been oversubscribed and sailing smoothly already from day one which makes me more and more responsible and motivates me to give my best to retain the confidence of that the investors have shown in me and my company. I have the obligation of being always up to mark while fulfilling their expectations by going above and beyond. We will expand into digital out-of-home (DOOH) advertising and offer the best of services to our esteemed clients.
2. What are your key priorities for 2023?
A: The year 2023 has been special for us as we went public. It holds a special place in my heart as this is the year when most of my dreams were realized. Having already chalked out the next 5 years in terms of investment, changes, priorities, and strategies to combat potential threats, we are poised to meet the expectations of the investors and provide them with value for their money. At Bright, we always try to devise long-term plans of more than 3 years as part of our business strategy. So, we are well prepared for this year and have planned a schedule for our Go Green and DOOH initiatives.
3. How do you see the potential growth of outdoor advertising in India? What role has digitalisation played?
A: Basically, OOH is an industry that will never die, despite facing occasional upheavals. The industry is sustainable in the long term as we believe that outdoor advertising is a traditional means to communicate with the audience. Therefore, we anticipate a great potential for further growth that should exceed market expectations. We believe that DOOH will play a major role in globalizing our offerings and putting India on the map as an OOH innovator.
