As we adjust to the ‘new normal’ after pandemic, the industry sector is also gaining its pace back. Last year was difficult for the advertising industry, as it witnessed 29% drop in OOH according to Magna Global, a media investment and intelligence firm. Strict lockdown and restricted movements across borders led to the drop in advertising outcomes. But as we stepped in 2021, things changed for good. Vaccination and relaxed lockdown rules made people step out of their homes again. This indeed brought OOH advertising back to life.
Founded in 2012, Vistar Media is a leader in programmatic technology under the out-home-advertising sector. Now, taking a higher leap in OOH sector, the company has been offered a whopping $30million funding from another giant in the advertising industry, the Lamar Advertising. It is a leading advertising company that handles outdoor advertising in U.S and Canada. Lamar advertising offered Vistar Media $3o million through its series B funding.
The advertising giants have fostered their trust of eight years through this enormous funding. Both Lamar advertising and Vistar Media believe in manifesting the power of OOH media even stronger after pandemic. According to Vistar Media’s CEO, Michael Provenzano, they are spending much beyond the records that they had set in the year 2019.
Through this funding, Vistar media aims at expanding their OOH advertising business to European markets. This includes countries like France, Germany, South Asia, England etc.