Perion at the forefront of pDOOH surge

Perion, a technology leader in connecting advertisers and brands to consumers across all major digital channels using AI-powered solutions, is making strident progress in the DOOH sphere. The Israel-headquartered company which had acquired Hivestack Inc., a global innovative full-stack programmatic DOOH company, in December 2023, reported 41% year-over-year growth in its Programmatic Digital-Out-of-Home (DOOH) business for the second quarter of 2024.

Perion is bullish about DOOH growth across global markets. A recent blog posted on the company’s website states that “DOOH advertising transforms ordinary public spaces into dynamic experiences, engaging audiences with eye-catching, personalized content in real-time. It harnesses cutting-edge technologies to target, deliver and measure unforgettable, immersive ads that connect brands with people on-the-go.”

This is complemented by the industry expectation that the global DOOH advertising market will grow by 7.77% annually from 2024 to 2029, reaching a market volume of $25.12 billion by 2029 (according to Statista).

Perion attributes its own growth to the company’s full-stack DOOH programmatic solution that facilitates:

• Precision targeting with global reach: Utilising the power of DOOH to dynamically and accurately target audiences globally, whereby ad impressions could be purchased in real-time across Perion’s extensive network of DOOH media owners worldwide, activating screens from a vast source of global DOOH inventory.
• Engagement along the consumer journey: The programmatic stack enables real-time engagement throughout the consumer journey. The extensive audience and location data could be leveraged to create custom segments and activate screens strategically positioned along these journeys. This approach enhances accuracy in reaching consumers and drives significant business outcomes. It also enables advertisers to measure the brand impact and performance of a campaign such as in-store visitation, foot traffic, and offline sales.
• Data-driven activation: The platform’s real-time buying capabilities allow for dynamic ad placement, adapting to audience behaviours and environmental changes, maximising the relevance and impact of ads on a global scale. DOOH ads could be activated using unique tools such as proximity geofences, geotemporal heatmaps and a wide array of data triggers to enable contextual targeting. “We also support advanced audience targeting with pre-defined, custom (based on first-party and third-party data), and cross-screen retargeting options, ensuring ads are highly relevant and effectively reach intended audiences,” the post states.

“Today, pDOOH revenue accounts for 18% of our total advertising solutions revenue, doubling from 9% last year.

“Our 41% growth in pDOOH underscores the effectiveness of our innovative approach to out-of-home advertising,” says Tal Jacobson, CEO, Perion. “With our advanced, data-driven solutions, Perion is not just keeping pace with the market; we’re setting the standard for how digital strategies can seamlessly integrate with physical spaces to capture audience attention and drive real-world results.”

The post concludes with the statement that “At Perion, we are strategically positioned to address a fundamental problem in the digital advertising industry, valued at approximately $700 billion. Brand advertisers face a complex challenge in today’s omnichannel universe: the task of identifying, connecting, delivering, and measuring compelling messages across multiple screens—including DOOH—and platforms at the optimal moments to maximize ROI for their advertising budgets.”