Outsmart, the trade body for the Out of Home (OOH) advertising industry has reported OOH advertising revenue for the first half of 2023 totalling £554m, an increase of +4.7% compared to the same period last year.
There was also a 4.4% year on year increase in OOH advertising revenues across the quarter from April to June 2023, with total revenues of £303m reported.
The figures, collated by PwC, also show digital’s share of the market remains stable at 63% of total OOH revenue in the first half of this year, and 64% in Q2.
Growth in Digital was +6.1% with +2.4% in Classic across H1 and almost all environments have now returned to pre-COVID revenue levels.
Justin Cochrane, chair of Outsmart, said: “The solid growth across the first half highlights the demand for Out of Home’s broadcast reach, placing brands in front of huge audiences.”
Andy Lobo, senior manager at PwC added: “The OOH sector continued on its path to recovery post the pandemic and is now trading just 3% below 2019 levels in Q2 2023. Digital OOH continues to capture the majority of budgets, and growth rates are very positive despite the macro-economic backdrop”.
