23rd May 2017
Outsmart, the trade body for the Out of Home (OOH) industry - advertising that reaches consumers while away from their homes, has announced that Digital Out of Home revenue reported for the quarter January to March 2017 is £107 million, up by a significant 28% on Q1 2016. Digital now accounts for 42% of all Out of Home revenue, an increase of 9.4 percentage points on Q1 2016.
Total Out of Home revenue for the quarter is £252million. This is broadly flat year on year, but revenues in the last 12 months (to the end of March) are up 3% on the prior 12 months.
Justin Cochrane, Chair of Outsmart, comments that “the transformation of the Out of Home medium continues with further investment in digital. State-of-the-art inventory and technology continue to enable advertisers to benefit from the flexibility and dynamism of digital Out of Home, as well as complement or amplify classic Out of Home campaigns.”
2017 marks the appointment of PwC, who will now undertake the revenue reporting for the Out of Home industry, on behalf of Outsmart. PwC has considerable experience in the Out of Home sector having worked with a number of the leading companies in the sector.
Justin Cochrane added “PwC will bring greater insight into Out of Home’s positioning within the wider media mix.”
Mark Maitland, PwC Media Strategy Partner, comments “We are delighted to be working more closely with the Out of Home industry alongside Outsmart, and are excited by the new investments being made in Digital inventory and the long-term prospects for the sector overall.”
Download a breakdown of all previous OOH revenue figures here.