Outsmart, the trade body for the Out of Home (OOH) industry, have released the latest OOH data for the second quarter (Q2) of 2024, revealing a period of strong growth and robust performance across the sector.
Outsmart, the trade body for the Out of Home (OOH) industry, have released the latest OOH data for the second quarter (Q2) of 2024, revealing a period of strong growth and robust performance across the sector.
The figures, compiled by PwC, show significant growth as OOH revenues reached £355 million, marking a 17% increase in comparison to the same period last year. Digital OOH continues to lead the way with a substantial 21% growth, while classic OOH also performed strongly with an 11% increase.
Digital’s share of total revenue in Q2 rose from 64% to 66% year-on-year, highlighting its force and growing dominance of the OOH landscape.
The strong performance in Q2 contributes to an equally impressive showing for the first half of 2024. Total OOH revenues for H1 in 2024 have climbed to £646 million, representing a 17% increase in comparison to H1 in 2023.
Within this period, digital OOH has continued to excel, recording a 21% year-on-year growth, while classic OOH had a respectable 9% rise.
Commenting on the sectors performance, Justin Cochrane, Chair of Outsmart, stated, “The momentum across the first half shows 2024 is going to be a great year for Out of Home as brands increasingly utilise its broadcast reach and creative dynamism to captivate huge audiences.”
Andy Lobo, Director at PwC, added, “Following its recovery back to pre-pandemic levels last year, the OOH sector continues to post strong growth figures driven by digital, with H1 2024 17% up on last year, and 9% on H1 2019”.
Dean Jones, Sales and Marketing Director at Route Media, said “As a media owner in the Out of Home sector, it’s incredible to witness such robust growth across the industry. At Route Media, we’re proud to be part of this dynamic industry during a period of exciting expansion. We look forward to continuing our work, delivering impactful and innovative campaigns that resonate with audiences and drive success for our clients.”
A detailed breakdown of OOH revenue figures is available to download via the Outsmart website.
