Outsmart, the UK trade body for the Out of Home (OOH) industry, has reported Digital Out of Home advertising revenues grew by 22.8% during the first quarter of 2024 compared to the same period last year.
Recording a strong start to 2024, the Outsmart report, with figures collated by PwC, shows total out of home revenues (digital and classic) reached £292m in Q1 2024 (+16.4% year-on-year) with digital out of home revenues growing significantly and claiming a 65% share of all out of home revenues.
Commenting on the report, Justin Cochrane, Chair of Outsmart, said, “A strong set of results for out of home combined with growing economic optimism is a positive outlook for all. As we move into the summer months when people get out and about more, out of home ensures brands engage and connect with their audiences at scale.”
Andy Lobo, TMT Senior Manager at PwC UK, commented, “The UK OOH industry has recorded another strong quarter of growth, building on recent momentum. The continued increase in digital penetration enables flexibility and innovation of advertising campaigns, which supports the long-term growth outlook.”
Visit the Outsmart website to download a detailed breakdown of Q1’s OOH revenue figures.
