The Out of Home (OOH) advertising industry has shown remarkable growth in 2024.
According to Outsmart, revenues for Q2 and H1 have increased significantly compared to the previous year.
Q2 2024 Financial Performance
Outsmart, the trade body for the OOH advertising industry, reports that Q2 2024 revenues have reached £355 million. This represents a 17% increase compared to the same period last year. Digital OOH revenue saw a 21% rise, while Classic OOH grew by 11%.
H1 2024 Financial Overview
Digital’s share of revenue increased from 64% to 66% compared to the previous year. The figures, collated by PwC, illuminate the sector’s robust performance.
Industry Insights
The industry’s recovery has been fuelled by advancements in digital technology and innovative advertising methods. Overall, the sector’s health is a positive indicator for the broader advertising landscape.
Comparative Analysis
These impressive figures underscore the growing importance and impact of OOH advertising in a digital-first world.
Digital OOH: The Driving Force
The continuous evolution of digital technologies has allowed brands to create more engaging and effective campaigns, thereby driving revenue growth.
Classic OOH: Steady Progress
Despite the surge in digital, classic formats retain their appeal, particularly in reaching audiences in areas with less digital penetration.
Future Projections
Strategies integrating both forms of OOH are likely to dominate the advertising landscape, ensuring sustained growth and relevance.
The significant growth in OOH revenues during 2024 underscores the sector’s resilience and adaptability.
Both digital and classic formats have shown that they can captivate audiences and drive substantial revenue growth.