UK’s OOH revenues up 7.3% at £300 million
By M4G Bureau - November 17, 2018
For the first time this year, digital revenues account for 50% of total OOH revenues
Outsmart, the trade body for the out of home (OOH) industry, has announced that out-of-home revenues in UK reported for the quarter July to September 2018 saw the total market grow by a significant 7.3% from £280 million in Q3 2017 to £300 million in Q3 2018.
The figures, collated by PwC, show that digital out-of-home has driven significant growth, with an increase in revenue of 19% year on year, higher than the growth seen in Q2 2018 of 6.4% YOY. For the first time this year, digital revenues account for 50% of total out-of-home revenues, a total of £151 million.
The report says that revenues from Classic out-of-home continued to remain robust with only a slight decline of 2.4% in Q3 2018, even as digital panels continue to replace classic panels in certain locations.
The reach and scale of Classic out-of-home remains huge with 98% of the UK population seeing OOH each week, 63% of which see DOOH, up 50% in the last 12 months.
The report further says that 94% of Greater London now see DOOH each week, but its reach is not confined to the Capital: 78% of the population in Edinburgh, 85% in Glasgow and 89% in Birmingham see a DOOH ad each week.
Justin Cochrane, Chair of Outsmart, commented on the report, “Brands are using out of home in increasingly imaginative and daring ways, enabled by the fusion of robust data and brilliant creative ideas.”