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Maria Iu
OOH tops £1bn in ad revenue in 2024 so far
Ad revenue in the out-of-home (OOH) industry reached £1bn in the first nine months of 2024, according to the latest data from trade body Outsmart.
This represents a 12% increase from a year earlier. For 2023, ad revenue totalled £1.3bn for the full year.
In Q3, ad revenue grew 4.4% year on year to £361m. This is the strongest-performing Q3 on record.
Digital OOH (DOOH) ad revenue drove much of the growth, increasing 7.7% to £243m.
DOOH accounted for 67% of total Q3 ad revenues; it was responsible for 65% of total revenue for the whole of 2023.
Outsmart chair Justin Cochrane commented that, “2024 promises to be a great year for OOH, with solid investment from brands seeking real world strategies.
Ad revenue figures are collated by PwC.
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Playout is Outsmart’s new system to centralise and standardise playout reporting data across all outdoor media owners in the UK. SPACE is the industry’s comprehensive inventory database delivered through a collaboration between IPAO and Outsmart.
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