The global digital out of home (DOOH) market could reach $58.67 billion by 2031 at an 11.6% compound annual growth rate, driven by digital entertainment with the fastest growth rate of 14.9% from 2022 to 2031, according to a report by Allied Market in 2022. Particularly as businesses restructure and explore ways to bring consumers back in the door following the Covid-19 interventions, the demand for entertainment content and custom solutions and brick-and-mortar business venues has surged.
Loop Media, Inc., dubbed the “Roku for business” by Roth Capital for its multi-channel streaming platform that provides curated music video and branded entertainment channels for businesses, recently uplisted to the New York Stock Exchange (NYSE), positioning itself to lead the way on the out-of-home streaming market. The DOOH space has seen an emergence of players deploying new technologies and imaginative approaches, resulting in an improved experience for all stakeholders – business owners, venue patrons, content creators, and B2B partner entities of streaming networks – and the supply is slowly catching up to demand.
Christos A. Makridis is an adjunct scholar at the Manhattan Institute. He is also a research professor at Arizona State University and the chief technology officer and head of research of Living Opera, an arts and education technology startup.
Photo by travelism/iStock