10th June 2021
Outsmart, the trade body for the Out of Home (OOH) industry has announced that OOH revenue for January to March 2021 declined -65% year-on-year generating total revenues of £97m. Traditional and Digital Out-of-Home revenues declined by -72% and -60% respectively. Digital’s share of revenue decreased slightly to 61%, and this remains significantly higher than its pre-pandemic share (53% in Q1 2020).
The figures, collated by PwC, reflect the impact of national COVID-19 lockdown restrictions, which were in place across Q1.
As restrictions lift, the outlook for Q2 is positive with studies conducted by OOH specialist agencies showing national mobility levels already above 75% of pre-pandemic levels, and trending towards 100% by late June. Consumer confidence is also returning and economic prospects are favourable with the OECD forecasting 7.2% growth in UK GDP in 2021, up from its March projection of 5.1% and the Advertising Association/WARC forecasts growth of +295.7% for UK Out-of-Home revenues in Q2 2021.
Justin Cochrane, Chair of Outsmart, comments “Now that we are through a challenging Q1, the industry is focused on driving strong growth for brands in Q2 and beyond, as the public safely head outdoors to enjoy summer.”
Visit the Outsmart website to download a detailed breakdown of OOH revenue figures.
Note to editors:
Outsmart is the UK trade body for the Out of Home (OOH) industry. We collaborate with all parts of the industry to provide a central reference point for our members, aiming to protect and advance their relationships with the advertising community, the public and national and local government.
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