By: M4G Bureau
Last updated : February 26, 2019 1:43 pm
Digital accounted for 53% of the total Out of Home revenues, according to the report by trade body Outsmart
The strong Q4 contributed towards total annual revenues of £1,209 million, up 5.7% from 2017, and greater than 2016-2017, which was 1.5%.
Digital Out of Home had a significant quarter of growth with an increase of 15.8% in Q4 2018. For the first time, Digital accounted for 53% of total Out of Home revenue. Classic Out of Home revenues have also improved with 0.4% growth in the fourth quarter.
New data from Route (R28- September 2018) highlights the availability of digital inventory that is growing across the UK. In both Bristol and Liverpool digital inventory has reportedly grown by 25% and 43% respectively in the last three months. This means that advertisers can achieve 68% cover of Bristol and 73% cover of Liverpool on a weekly basis.
Justin Cochrane, Chair of Outsmart, commented, “Although economic and political uncertainty remains, the strong growth in Out of Home highlights its status as a trusted medium and one which advertisers are using ever-more creatively to deliver results.”
Mark Maitland, Head of Entertainment and Media at PwC, said, “It is an exciting development that in 2018 Digital Out of Home accounted for 50% of total industry revenues, at £603m, which is a result of continued investment in the UK Digital OOH infrastructure. Overall annual growth of 6% is also impressive and is indicative of a strengthening industry, particularly when compared to 1.5% annual growth the previous year.”