Programmatic media-buying outfit Rubicon Project has today (2 November) announced its partnership with two of the US' leading digital outdoor companies AdSpace Network and Captivate as it seeks to capitalise on the fast-growing out-of-home (OOH) video market.
Under the terms of the deal, Rubicon Project will power the automation of Adspace and Captivate's offerings, with both companies using its Orders platform to customise packages to premium advertisers.
The three companies claim that the total means that advertisers can engage with an OOH audience nearly 80 million-strong using video via Rubicon's platform, with the company noting that much of this inventory is located in shopping malls and high-end offices around the USA.
Automating the OOH media market means that outdoor networks can improve the accuracy of their targeting, cut tenancy times (and the volume of tenancies they sell), therefore increase their revenue generation.
The US video OOH market is projected to be worth $11bn by 2019, and $45bn globally, according to research from PriceWaterHouse Coopers, with the expansion of video opportunities expected to spur this growth.
Peter Krieger, president and COO of Adspace Networks, said the improved targeting would help advertisers to reach hard-to-reach consumers.
Captivate chief Marc Kidd added: "It only makes sense that in our ongoing efforts to elevate tenant engagement and the impact of advertising, we also look to elevate and automate the content we deliver to our audience of upscale."
Dax Hamman, chief product officer at Rubicon Project, said: "This marks the latest step forward in our expansion into the multi-billion dollar OOH advertising market, dovetailing perfectly with our recent Bitposter announcement in the UK.”
Rubicon - which is commonly referred to as a digital media marketplace - announced a tie-up with Bitposter in early September in the UK where the automated OOH market is currently valued at £1.6bn a year.
During the launch of the partnership, both parties stated that they hoped the efficiencies garnered by automation technology will mean local businesses and SME’s will increase their outdoor media spend (a phenomenon that was widely observed with the advent of online advertising).
This partnership followed earlier trials conducted by TubeMogul – a company traditionally seen as a video demand-side platform (DSP) - partnered with Interpublic Group trading desk Cadreon, and outdoor ad exchange Site Tour to offer brands the ability to buy OOH slots on an automated basis