25th February 2019
Outsmart, the trade body for the Out of Home (OOH) industry has announced that Out of Home revenue reported for the quarter October to December 2018 saw the total market grow by 8.1% from £332 million in Q4 2017 to £358 million in Q4 2018.
The strong Q4 contributed towards total annual revenue of £1,209 million, up 5.7% from 2017, and greater than 2016-2017, which was 1.5%.
Digital Out of Home had a significant quarter of growth with an increase of 15.8% in Q4 2018. For the first time, Digital accounted for 53% of total Out of Home revenue. Classic Out of Home revenues have also improved with 0.4% growth in the fourth quarter.
New data from Route (R28- September 2018) highlights the availability of digital inventory is growing across the UK. In both Bristol and Liverpool digital inventory has grown by 25% and 43% respectively in the last three months, meaning advertisers can achieve 68% cover of Bristol and 73% cover of Liverpool on a weekly basis.
Justin Cochrane, Chair of Outsmart, comments that “although economic and political uncertainty remains, the strong growth in Out of Home highlights its status as a trusted medium and one which advertisers are using ever-more creatively to deliver results.”
Mark Maitland, Head of Entertainment and Media at PwC, said “it is an exciting development that in 2018 Digital Out of Home accounted for 50% of total industry revenues, at £603m, which is a result of continued investment in the UK Digital OOH infrastructure. Overall annual growth of 6% is also impressive and is indicative of a strengthening industry, particularly when compared to 1.5% annual growth the previous year.”
Visit the Outsmart website to download a detailed breakdown of OOH revenue figures.