03rd December 2021
Outsmart, the trade body for the Out of Home (OOH) industry has announced that OOH revenue for July to September 2021 increased 63% year-on-year, generating total revenues of £270m. Digital Out of Home and Classic revenues increased by 69% and 53% respectively. Digital’s share of revenue was 64%, the highest since Q2 2020 and remains significantly higher than its pre-pandemic share (53% in Q1 2020).
Out of Home saw strong YOY growth throughout the months of Q3 2021, which were relatively strong in 2020, given the easing of lockdown and schemes such as “Eat Out to Help Out”. It is expected growth will continue for the remainder of the year and beyond.
The figures, collated by PwC, reveal Digital has virtually recovered to pre-pandemic levels, currently only 2% below Q3 2019.
Studies conducted by OOH specialist agencies indicate that since mid-2021, population mobility continues to increase, especially among younger audiences.
The outlook for 2022 is positive with the Advertising Association/WARC forecasting total UK advertising spend to grow 7.7% and Out-of-Home predicted to grow 27.7%.
Justin Cochrane, Chair of Outsmart, comments “Another strong rebound quarter and a positive outlook for next year. Out of Home continues to connect brands and consumers in ever more innovative and trusted ways”
Visit the Outsmart website to download a detailed breakdown of OOH revenue figures.