OOH posts best-ever H1 in ad revenue
Out-of-home advertising revenue in the UK grew by double digits in H1, according to industry body Outsmart, making it the strongest H1 yet.
In Q2, revenue was up 17% year on year to £355m, figures from PwC show. The increase was led by digital, which grew at double the pace of classic at 21% versus 11%.
In revenue terms, this was the strongest-ever Q2 performance since monitoring began.
This has led to digital’s share of the market reaching 66% in Q2, from 64% a year earlier. For full-year 2023, digital had a 65% share.
In H1, total revenue was also up by 17% to £646m. Digital grew 22% compared with 9% in classic.
It was also the strongest H1 since records began.
Justin Cochrane, chair of Outsmart and Europe CEO of Clear Channel, said: “The momentum across the first half shows 2024 is going to be a great year for OOH as brands increasingly utilise its broadcast reach and creative dynamism to captivate huge audiences.”
Andy Lobo, director at PwC, added: “Following its recovery back to pre-pandemic levels last year, the OOH sector continues to post strong growth figures driven by digital, with H1 up 9% on H1 2019.”
Playout, Outsmart’s new system to standardise playout reporting data across outdoor media owners, has recently undergone verification testing by PwC’s Marketing & Media Owner services.
PwC’s Procedures Report examined and tested key areas of Playout including proof of play, data validations and data segregation. PwC’s verification testing was conducted in accordance with the international standard ISRS 4400 (revised) issued by the International Auditing and Assurance Standards Board.
Playout is delivered by Adwanted UK, the parent company of The Media Leader.
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