Outdoor Results Show Record Growth And Market Share
The outdoor advertising industry saw revenue top £225 million in the three months to December 2003, in a development that puts the medium on course to command a record 10% market share.
The latest figures from the Outdoor Advertising Association reveal a 13.8% year on year increase compared to the same period in 2002 and a full year increase of 10.4% for the sector.
Earlier this month Alan James, chief executive of the OAA, predicted unprecedented growth for the sector, a forecast that has been proven correct, with outdoor now the fastest growing advertising medium (see Outdoor Advertising Set To Claim Record Market Share).
James cited the format’s flexibility as one reason for its continued success, commenting: “It’s the scope and the breadth of the offer that outdoor now has that means it’s no longer just a 48-sheet medium. Now you can have ads in shopping trolleys, you can have ads outside supermarkets and even inside gyms and healthclubs.”
The top advertiser categories in the fourth quarter of 2003 included motors with a 76.8% increase in revenue, cosmetics and toiletries claiming a 55.8% rise and computers with a 45.9% increase. However, entertainment and the media remained the largest spending sector, accounting for £35.7 million of the medium’s total revenue.
Commenting on the figures, James said: “Outdoor has continued to perform extremely well and I believe that Q4’s result will maintain outdoor’s position as the fastest growing established medium in the UK. Throughout 2003 outdoor consistently outperformed the market in terms of revenue growth and we are now poised to achieve 10% share of display media.”
The OAA recently published results of an advertising campaign to attract more attention to outdoor advertising, returning impressive results, with over 80% of agencies approving of the campaign and its objectives (see Outdoor Awareness Campaign Hailed A Success).
The results also follow a study from Clear Channel UK, which suggests that the effectiveness of non-broadcast media is underestimated by current media research by up to 20%. The research confirms long-held industry suspicions of under-reporting for a range of non-broadcast media, especially outdoor and press (see Existing Research Under-Reports Non-Broadcast Media).
Outdoor Advertising Association: 0207 973 0315 www.oaa.org.uk
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