SINGAPORE – IDOOH International and Micab Philippines have signed a Memorandum of Understanding (MOU) today to deploy 5,000 of IDOOH’s In-Ride Out-of-Home (OOH) digital media screens in Micab partner taxi fleets by 2019.
The agreement will commence with an initial in-taxi screen roll-out to 500 cars in Cebu, Davao and Manila by July 2018, followed by a more comprehensive in-ride commercial service offering for consumers and brands to 1,500 vehicles across five cities by December 2018 and another 3,000 cars in 2019. The fully interactive 10-inch media tablets will provide high-quality entertainment, information and full e-commerce ability.
IDOOH Group CEO Mark Forsyth said: "The Philippines is a key market for us and this partnership with Micab is an opportunity for us to grow our regional network of in-vehicle screens. With the rapid growth of the country’s ride-hailing market, Micab represents a new wave of technology adoption and business innovation, and we look forward to working with them to transform the in-taxi passenger experience through intuitive media technology."
Micab CEO and co-founder Eddie Ybanez said: “We are excited to partner with IDOOH to integrate digital technology in the taxi journey to enhance the passenger experience and bring new commercial opportunities to our business partners. IDOOH’s Asian track record, experience in transport logistics and big data analytics will provide us with the tools necessary to develop new business and advertising revenue models.”
Micab is IDOOH's second transport partnership in Asia Pacific, following its tie-up with ComfortDelGro's outdoor advertising arm Moove Media in April 2018.
Out-of-Home advertising is now a US$29 billion market with revenue expected to grow by 3 to 4 percent per year over the next five years to reach US$33 billion by 2021, according to the MAGNA Intelligence and Rapport study. Digital OOH is a key growth driver as digital screens have allowed
OOH advertisers to penetrate niche environments to reach the young, urban population that might otherwise be difficult to achieve through traditional media. Although digital OOH contributes only 5 percent of the global OOH inventory, it already generates 14 percent of total advertising revenues and is expected to grow to 24 percent globally by 2021.