00:47:24 · Ian Dallimore, Michael Provenzano
[00:47:24] S0: Yeah. And it's interesting because you have to find those curious people within those out of home organizations even just to have that conversation. [00:47:33] S1: Yeah, it's brutal. I I was lucky with you because you're just like, hey, I'm that guy, I'm like, great, I found him. [00:47:37] S0: I think I literally said that to [00:47:38] S1: I didn't even look. [00:47:39] S0: Didn't even look. Yeah. [00:47:41] S1: But yeah, it's really it's really tough to find and and then, you know, it's a tough conversation because, you know, if you're working with private equity firms, right, they're investing companies, you know, 10 to 30% growth, steady growth, whatever it might be, and, you know, if you're getting VC funding, they expect you to have some exponential growth, and everyone's got different expectations of what quote good is. [00:48:06] S0: Right.
00:48:06 · Ian Dallimore, Michael Provenzano
[00:48:06] S0: Right. [00:48:06] S1: The out of home industry had like a two and a half percent CAGR. And again, for some people that was absolutely cool, absolutely fine. Right. You you know, for someone like me who comes from these high growth software startup world type of type of thing, I look at that I say, what's going on here? Like, why don't we all try harder? Why don't we do more? Why isn't there isn't there more we can do? And so I think understanding that, and like you said earlier, taking the time to see things from other people's perspective, I learned to appreciate that and realize, well, I'm not going to try to convince the person who doesn't need this that they need this. I'm gonna just find the people who do need this Right. And spend time with them Spend [00:48:47] S0: and grow there. [00:48:47] S1: Help them grow. [00:48:48] S0: Yeah. And it's... So obviously programmatic has evolved significantly. We kind of touched on that. So it... It's interesting because Vistar has always been and the platforms have always been kind of like, oh, yeah, we can do that. And what... Where where's the outside of the people, but the technology side of thing, where where does that success happen? And is it... We always talk about that. Like, what's what's the next innovative thing? And for innovators like myself and yourself, you kind of get to a nervous point where you're like, okay, I think we've reached the top of the
00:49:18 · Michael Provenzano, Ian Dallimore
[00:49:18] S1: mountain, like, now what? For sure. It's it's close, right? I mean, we we have a fairly immature marketplace at this point. I still think there's big leaps we can make in measurement, but I always go back to that, which is another reason why, again, super excited on the T-Mobile side, but, you know, measurement is something that brands will never say they don't want more of. Right. And to be better defined, they want more clarity of how it works across multiple channels of advertising. These are things that, you know, we've just scratched the surface with. And again, it was a it was a binary jump for us. It was there was no measurement really in out of home, now there was some, right, in terms of attribution showing results. So that's a great accomplishment over the last fourteen years, but we just scratched the surface when you look at it compared to some of the most measurable forms of media. So closing that gap is just probably still a lot of technological innovation to be done there, which is cool. And then again, you know, retail media is a hot topic and any of these hot topics in in in the space, I always think about like, is it actually applying to us yet? Right. For retail media, it's they're really talking about online e commerce media today. Yeah. For most of money goes. Yeah. [00:50:33] S0: Amazon, banners.
00:50:33 · Ian Dallimore, Michael Provenzano
[00:50:33] S0: Amazon, banners. [00:50:34] S1: Yeah. But it's crazy because if you if you look at the math, it's like 85% of what we buy in The US happens in store. Yep. So it's like, well, maybe we should be focusing on that side of it. Yeah, because it's like optimizing that revenue and increasing that opportunity by way more valuable for brands and the retailers themselves. So, those are things that there's a lot of opportunity for innovation coming down both those paths. [00:50:59] S0: Yeah. And we we always hear the word, I say it's a nauseum, but the omni channel approach and, you know, at the end of the day, I always use this phrase, it's like, or comment, it's like, like, take your advertising out of home hat off or, you know, media hat off. It's like, look, at the end of the day, consumers aren't asking for ads. You know, we're we're curious. So if you if you reach me at the right moment in time, so that that evolution is going to be interesting and continue to evolve. Do you feel that there's going to be this consolidation of screens, but then the experience just becomes more seamless with... Look, that's the thing I'm most jacked up about for you with T-Mobile is like, you're now integrating in with a company that like, they live in the world of the... Full journey. Full journey is what it's all about.
00:51:47 · Michael Provenzano
[00:51:47] S1: Yeah, absolutely. I think there's something that we can do more meaningful to the consumer, especially for a brand like T-Mobile who's consumer first in everything they do. One of the reasons I don't know if I talked about this in the first podcast, but personally, I've always loved out of home because it is a passive medium. Yep. You know, it's not stopping me from walking down the road and something shoots out of the street and so you can't proceed without, you know, watching this ad, but that's most of online media. It's a toll bridge, like I see ads online because they force me to in order to read an article or to watch a video, and that's a very different experience with a brand. I don't know why I still have we we we're trying out Hulu for example, my wife and I watch it at night, she's like, why have you not paid for this yet? Yeah. And she's like, I know you can't. Like, I know, I need to, I keep forgetting, but I hate Lexus right now because every night I have to watch these horrible ad with them and these two dogs, I don't want to shoot myself. And it's like, what a what a bad way to set up your brand. Right. Because those are nice cars, I shouldn't hate them. Right. But the fact that the way you want to communicate with me as a person is to stop me from after a long day of sitting back, I just want to enjoy like thirty minutes of TV. Like that's that's probably not the best relationship to have. It's simple frequency capping could fix that, right? They know the device I'm on, they know other things, just bad media buying, bad use of technology, and it's sad for the brand. Yeah,
00:53:16 · Ian Dallimore, Michael Provenzano
[00:53:16] S0: and it's the tech side that struggles with that. [00:53:19] S1: And it it should be the tech side that solves that. Correct. It's crazy. And I [00:53:24] S0: that that's gonna be the biggest evolution because you don't, like, you don't want the Lexus brand. You know, I'm infatuated with the g x five fifty, if I [00:53:31] S1: could ever find one.... Scars. [00:53:33] S0: Yeah. But if an ad will... And if that... I love that. The toll that it is for attacks Yeah. In order for you to continue to watch now becomes a negative experience with you about where if Lexus were to serve that ad in a different format, different location, different Yeah. Time of day Yeah. The experience and the thought may be completely different. [00:53:52] S1: Totally. And it's sad because it's not even Lexus doing it, it's probably another one of their media buyers or their or their technology platform, maybe a managed service doing it, making the mistake, and it's like, it's hard. It's really hard to be a brand and and have, like you said, like, consistent healthy conversation with the consumer. [00:54:09] S0: Yeah. And and at the end of the day, it's all about the consumer and how it ingests the media. [00:54:14] S1: Yeah. So what do... Pay the bills.