Evolving digital media landscape expands opportunities
oOh!media Limited’s acquisition of Executive Channel Network promises “significant cost synergies and value creation opportunities” and an expanded reach of 1.8 million premium business customers weekly, says oOh! chief executive Brendon Cook.
In October, oOh! acquired ECN through its wholly-owned subsidiary, Inlink Group Pty Ltd, for $68.5 million.
According to oOh! Chief Executive Brendon Cook, the acquisition of ECN is an exciting opportunity for oOh! to expand its digital presence, and is in line with the company’s strategy to “drive engagement with audiences through a diversified portfolio of digital and classic screens in unmissable locations”.
For building owners and property partners, the acquisition promises “significant cost synergies and value creation opportunities”, while it will also “increase the value we can deliver to our partners through development of strategic technologies”.
The ECN group was founded in Australia more than 10 years ago, and operates a network of digital displays in CBD office towers and car park environments across the country. ECN has installations in more than 280 different venues delivering real time content and advertising, and is underpinned by strong relationships with more than 110 property owners.
The combined portfolio includes screens in Australia Square in Sydney, the Medibank Building in Melbourne and the ANZ Centre in Brisbane.
Cook says the acquisition complements oOh!’s existing portfolio of products and audiences, and will bring the number of buildings under management between ECN and Inlink to over 640 and more than 3,500 displays across Australia.
It almost doubles oOh!’s CBD presence and expands its network of digital out-of-home screens across road, retail, airports, office towers, cafes, venues, gyms and sports environments.
This combined network will reach an audience of 1.8 million premium business customers each week.
According to PQ Media, a leading provider of market intelligence, in 2013 Australia became the first global market in which consumers were exposed to digital out-of-home for more than one hour per week. This was fuelled by rapid growth in digital out-of-home media and Australia’s high proportion of city dwellers.
Cook says the office media sector provides a highly-defined and high-value audience that complemented the company’s portfolio.
“The acquisition further enhances our position as Australia’s largest reaching digital sign network and consolidates our number one position in the CBD office segment. This offering increases the value we can deliver to advertisers and building owners through greater reach and more efficient targeting of audiences,” Cook concludes.
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