Out of Home Advertising Industry Reports +13% Growth in Revenues  in Q3 2023

Out of Home Advertising Industry Reports +13% Growth in Revenues in Q3 2023

5th December 2023

Outsmart, the trade body for the Out of Home (OOH) advertising industry reports OOH advertising revenue for the third quarter of 2023 totalling £346m, an increase of +12.9% compared to the same period last year.

The figures, collated by PwC, reveal that Digital OOH revenue grew +15.6% and Classic OOH grew +8.1%. Digital’s share of revenue increased slightly to 65%. 

Q3 2023 traded +4.9% above Q3 2019 (i.e. pre-pandemic) and represents the first quarter where revenues were higher than the corresponding quarter in 2019.

Justin Cochrane, Chair of Outsmart, comments, “A strong third quarter for Out of Home demonstrates advertisers' continued demand for the flexibility and scale it offers.”

Separately, a recent report from PwC, commissioned by Outsmart, finds the UK Out of Home (OOH) sector contributed £411m to support public services, infrastructure, communities and 
employees in 2021 – representing 46% of its advertising revenue.

In addition, PwC estimates a further c.£29m helped support charities and communities through donations, heavily discounted or donated media space and staff hours given to charity by media 

The report, based on a survey of OOH media owners representing 92% of industry revenue, also highlights how the sector has increased the share of renewables to over 90% of electricity 
consumption whilst innovating to increase the use of recyclable materials.

Click here to download a detailed breakdown of Q3’s OOH revenue figures.