The out-of-home (OOH) sector of the advertising industry is worth more than £250m following impressive growth and resilience as it continues to outshine other sectors.
Industry data from the first quarter of 2023 showed that OOH revenues showed a 5.1% rise compared to the same period in 2022, taking the value of the industry to £251m over the three-month period.
Growth of the sector is predicted to continue throughout 2023, with the Advertising Association and WARC forecasting an increase of 4.9% in OOH spend for the year, compared to a total advertising growth of just 0.5%.
In addition, the share of the market for digital outdoor advertising remained stable at around 61%, with revenue from that sector growing by 6.8%. Classic billboards have also grown 2.5% year-on-year.
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Outdoor advertising operator 75Media managing director Paul Inman said it was “fantastic to see the out-of-home industry soaring again”.
“OOH globally is forecasted to grow 12.7% this year, and the UK will be one of the top 10 areas of growth, without a doubt. The beauty of out-of-home is that it’s very scalable – so it’s as suitable for global brands as it for small local businesses.”
“People still talk about billboards – which isn’t something you really get with many other forms of advertising,” he added.
75Media has created a guide for organisations and brands looking to create effective OOH campaigns.
