Out of Home reports Q1 revenue of £276 million
A -3.1% year on year decline driven by lockdown in March 2020
29th May 2020
Outsmart, the trade body for the Out of Home (OOH) industry has announced that Out of Home revenue for the first quarter of 2020 saw a decline of -3.1% from £285 million in Q1 2019 to £276 million in Q1 2020.
The figures, collated by PwC, show that prior to the lockdown imposed in March 2020 in response to the Covid-19 pandemic, the OOH industry was on track for growth, with 1.8% and 3.8% year on year growth for January and February respectively, versus 2019.
Digital Out of Home showed Q1 2020 growth of 5.2% compared to +10.9% in Q1 2019 and Classic Out of Home declined at -11.1% compared to +3.1% in Q1 2019.
The lockdown has created challenging market conditions for Out of Home with a significant decline expected in Q2 and recovery beginning in Q3 and Q4.
Justin Cochrane, Chair of Outsmart, comments “It is a challenging period for many sectors, including Out of Home. As lockdown eases the opportunities for brands to reconnect with their outdoor audience grow by the day.”
Visit the Outsmart website to download a detailed breakdown of OOH revenue figures.
Note to editors:
About Outsmart:
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.
About PwC
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