October 8, 2023 | Press Releases
BANGKOK, THAILAND, MONTREAL, CANADA (October 9, 2023) – Hivestack, the world’s leading independent programmatic digital out of home (DOOH) ad tech company has grown its presence in Thailand through a new DOOH partnership with leading local media owner specializing in elevator screens, Up Media.
Through this partnership, 2,000 Up Media DOOH screens on elevators in premium shopping malls, office buildings, hotels and residential buildings will be integrated via the Hivestack Supply Side Platform (SSP) and made immediately available for both local DOOH buyers situated in Southeast Asia, and globally, via Private Marketplace (PMP) and Open Exchange deals. In Thailand alone, DOOH ad spend is projected to reach $213.20M USD in 2023 with an annual growth rate (CAGR 2023-2027) of 6.01%, resulting in a projected market volume of $269.30M USD by 2027.
Before the addition of Up Media, the Hivestack platform already delivered 14.4B monthly impressions in Thailand across an impressive network of DOOH inventory in Bangkok, Phuket, Chiang Mai and Chiang Rai, across billboards, metro networks, shopping malls and train stations. Hivestack now welcomes Up Media’s latest elevator screens to provide DOOH buyers with an unprecedented level of audience engagement in Thailand, and another stream of revenue for UpMedia from “outside-in” buys globally.
Joey Zhou, Founder & CEO, Up Media commented, “We are excited to collaborate with Hivestack and we are going to scale up our inventory - aiming to triple it in the next 12 months. Exciting times ahead as we are offering advertisers impactful media for high end audiences in the best locations across Thailand.”
Jan Harling, CEO, Virtus Asia Consulting (local consultancy for Up Media) added, “I am confident that many marketers with a focus on premium audiences will view the availability of this inventory, now accessible programmatically, as a game-changer in Thailand. This opportunity aligns perfectly with Thailand's recovery, marked by bustling shopping malls and offices returning to their full-capacity state. It promises a significant shift in the landscape of impactful media opportunities."
Matt Bushby, Managing Director ANZSEA, Hivestack shared “It’s been an incredible journey for us in Thailand with the amount of growth we’ve achieved with our partners. We’re so proud to be building the largest DOOH inventory network and are proud of the large number of successful brand campaigns we have under our belt already in the region. Our partnership with Up Media comes at an exciting time for our business as we onboard more screens in different formats across Thailand, located in Bangkok, Chiang Mai, Chiang Rai and Phuket.”
Hivestack launched in Thailand in March 2022 and has since grown its marketplace significantly, partnering with the country’s leading media owners and driving awareness and business outcomes for many brands via engaging programmatic DOOH campaigns. In September of 2022, the country’s leading food & beverage company, Bar.B.Q Plaza, turned to Hivestack to drive brand awareness, deliver a creative campaign and increase footfall traffic to their stores. What resulted was a captivating, interactive programmatic DOOH activation across 16 BTS prime train station locations delivering over 4 million impressions.