News

Outsmart, the trade body for the Out of Home (OOH) advertising industry has reported OOH advertising revenue for the first half of 2023 totalling £554m, an increase of +4.7% compared to the same period last year.

There was also a 4.4% year on year increase in OOH advertising revenues across the quarter from April to June 2023 with total revenues of £303m reported. 

The figures, collated by PwC, also show digital’s share of the market remains stable at 63% of total OOH revenue in the first half of this year, and 64% in Q2.

Growth in Digital was +6.1% with +2.4% in Classic across H1 and almost all environments have now returned to pre-COVID revenue levels.

Justin Cochrane, Chair of Outsmart comments, “The solid growth across the first half highlights the demand for Out of Home’s broadcast reach, placing brands in front of huge audiences.”

Andy Lobo, Senior Manager at PwC comments, “The OOH sector continued on its path to recovery post the pandemic and is now trading just 3% below 2019 levels in Q2 2023. Digital OOH continues to capture the majority of budgets, and growth rates are very positive despite the macro-economic backdrop”.

Visit the Outsmart website to download a detailed breakdown of OOH revenue figures.