Digital & Dirt
01:14:22 · Jim Norton, Ian Dallimore
[01:14:22] S6: They have and they haven't. You know, I think that's one of my biggest observations is in real life media as a medium has a lot of nuance to it. You know, there's a lot of institutional knowledge about why a board on the north facing side versus the south facing side is better. A lot of times you just need to be there to see it, to feel it, to understand it. It doesn't show up on a spreadsheet. So I have a lot of respect for the community that has that innate knowledge because as much as media has shifted to more of a science based buy, there's a lot of art to buying our medium that is IRL. [01:15:05] S0: Yeah. And so we're seeing our medium start to become a part of the omni channel. It's more connected than ever across the broader media ecosystem. What do you think the biggest opportunity for our industry is to capture... Look, I hate the word, I know you're a CRO, but like how do we capture more rev share? And I think it's bigger than that, right? So how we get to show up and prove ourselves?
01:15:05 · Ian Dallimore, Jim Norton
[01:15:05] S0: Yeah. And so we're seeing our medium start to become a part of the omni channel. It's more connected than ever across the broader media ecosystem. What do you think the biggest opportunity for our industry is to capture... Look, I hate the word, I know you're a CRO, but like how do we capture more rev share? And I think it's bigger than that, right? So how we get to show up and prove ourselves? [01:15:26] S6: Approve is the biggest thing, And, you know, one of the, as I mentioned on stage, we just released study on behalf of the industry really. That one, the stat that I used is you go online, 93% of people, they're questioning whether or not the content is AI generated or generated by a real person. The other stat was that when out of home IRL media is compatible to other mediums, it's a 53% increase in trust. And so when you think about that, where that plays and to get brands to understand the importance of the medium to the overall marketing mix, it's been difficult due to measurement, due to lack of measurement, lack of integration. I think we're all progressing, maturing towards being part of those omnichannel ecosystems. It's big unlock for us. The stat that I use, which I invite everybody in our industry to use is if you think about The U. S. Advertising industry of a $500,000,000,000 addressable market in all formats, 300,000,000,000 digital media, the entire out of home industry is only 10. And so just think about how do we just shift a couple percentage points to a powerful, trusted, effective medium, it changes the industry for all of
01:16:48 · Ian Dallimore, Jim Norton, Barry Frey
[01:16:48] S0: us. Right. I agree. You know, programmatic has obviously unlocked the accessibility of out of home inventory. There's a lot of school of thought that says like, oh, we don't have an accessibility problem. But, you know, with the future of automation coming on traditional side and programmatic being brought to the forefront with just digital, do you think our approach is happening where eventually it'll be one in the same programmatic and out of home [01:17:12] S6: as I do. I think it's... First of all, supply exceeds demand today. [01:17:17] S1: Yep. [01:17:17] S6: Right? There is plenty of viable inventory that exists. Demand has been hampered by the fact that we, you know, look at the big holding code trading platforms have not prioritized. You know, there's a long list of things ahead of us, including audio, certainly CTV, retail and commerce media have all jumped the line ahead of us. We're battling to try to get on that product roadmap just for those integrations. Once those are done, I believe as those pipes widen, we are going to see a massive influx of more automated, what I would just consider overall, it's just a more modern way to transact. Right. Right? And that's it.
01:17:17 · Jim Norton, Ian Dallimore
[01:17:17] S6: Right? There is plenty of viable inventory that exists. Demand has been hampered by the fact that we, you know, look at the big holding code trading platforms have not prioritized. You know, there's a long list of things ahead of us, including audio, certainly CTV, retail and commerce media have all jumped the line ahead of us. We're battling to try to get on that product roadmap just for those integrations. Once those are done, I believe as those pipes widen, we are going to see a massive influx of more automated, what I would just consider overall, it's just a more modern way to transact. Right. Right? And that's it. [01:18:01] S0: And we can still, and the next topic, have to talk about AI, but it's more just, you know, how do we approach, to your point, accessibility to inventory, but also tell me a story. Yeah. But how do I capture that market knowledge of an LA in a certain neighborhood that OUTFRONT has inventory and why is this accessible? But do you see the biggest opportunity for AI to improve how buyers plan?
01:18:01 · Ian Dallimore, Jim Norton, Raj Lala
[01:18:01] S0: And we can still, and the next topic, have to talk about AI, but it's more just, you know, how do we approach, to your point, accessibility to inventory, but also tell me a story. Yeah. But how do I capture that market knowledge of an LA in a certain neighborhood that OUTFRONT has inventory and why is this accessible? But do you see the biggest opportunity for AI to improve how buyers plan? [01:18:25] S6: Yeah. I think it's still the workflow on both sides of the desk, honestly. I mean, I have a lot of empathy for the out of home buyers and the specialists who have been understaffed, were buying windows have shortened and there's not the time that they were once given in order to effectively plan and buy and then ultimately measure. And there's just a lot of art to this that it's hard to automate the art. Now, that being said, there's a huge opportunity to remove the super manual kind of swivel chair nature of our industry of like, you know, having to source multiple inventory points and measurement points. And, you know, I'm sure your team sees it on the sell side as well. Just aggregating photography and getting that ready for proof of posting is a big manual challenge for us all. [01:19:25] S0: Yeah, God, we love a spreadsheet with dropdown arrows Just and you can't copy and paste [01:19:30] S6: don't mess with the formulas. [01:19:31] S8: You know, someone [01:19:32] S0: once asked me, they were like, If you could rebuild an out of home company and specifically around National, what's the one thing you wouldn't allow? And I was like, A spreadsheet.
01:19:32 · Ian Dallimore, Jim Norton, David Sable, Anthony Scaramucci
[01:19:32] S0: once asked me, they were like, If you could rebuild an out of home company and specifically around National, what's the one thing you wouldn't allow? And I was like, A spreadsheet. [01:19:39] S6: A spreadsheet, I know. [01:19:40] S0: It'd be gone. So speaking of that, so AI automation, whatever it may be, as that continues to improve, I think one of the most unique things, we just had Nicole from The Trade Desk on. [01:19:51] S9: Yeah. [01:19:51] S0: And she's, and I love this, like you and I sitting next to each other, you and I having a podcast, in what world would Meta and YouTube sit? Oh God. Would be a bloodbath. And let alone be in the same building. [01:20:01] S4: Oh yeah. [01:20:01] S0: So with that, I think one of the unique things about our industry is how we we all play great together. And it's not play nice. It's like, no. Legitimately, if I can buy across Lamar out front and maybe a few other vendors, the automation creates that. It creates the efficiencies that you're talking about. But in your world, I believe the importance of the human relationship become even that more impactful.