Market Share of South Korea OOH And DOOH Industry
The South Korean OOH and DOOH market is fragmented, with a significant number of players. A combination of accelerating growth in end-user advertising spending and continuous technological advancements resulted in a strong rivalry in the market. Further, the partnership, acquisition, and merger activities in the market are further analyzed to intensify the competitive rivalry in the market.
- February 2024: The South Korean OOH advertising sector announced the ‘OOH Advertising Effectiveness Metrics Standardization Alliance.' This collaborative effort, which includes advertising agencies, media firms, AI solution providers, and relevant government bodies, is dedicated to setting a standard for scientifically measuring OOH advertising effectiveness. Comprising 30 OOH companies, the Alliance's primary goal is to develop crucial metrics like foot traffic and viewership (attention rates). Additionally, it aims to chart mid-to-long-term strategies for a data platform that caters to a broad spectrum of users, from advertising agencies to media companies.
- January 2024: The South Korean government approved the establishment of iconic DOOH zones in three places in Seoul and Busan. Owing to significant regulatory relaxations, these new DOOH-free zones are poised to draw global attention, potentially rivaling the fame of iconic spots like Times Square or Piccadilly Circus. Notably, these zones allow for the installation of approximately 20 LED boards, all at no cost.
South Korea OOH And DOOH Market Leaders
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OHBROWN
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spaceAdd
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Blindspot
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PODOOH MEDIA NETWORK
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Hivestack
*Disclaimer: Major Players sorted in no particular order
