Leading out of home advertising provider Open Media has reported a 22% YoY growth in revenue for the 2023 calendar year, and almost doubled headcount since the start of the same year.
The company’s projected revenue growth for this year stands at a healthy +35% compared to 2023.
The business attributes the growth to the continued success of its premium large format digital out of home network, Open Connect. Sales among media agencies and specialists in both the regions and London saw a significant uptick in 2023 as well as into this year, contributing to the company’s overall success.
The company plans to invest over £1 million into new, premium LED DOOH sites as part of the continued expansion of Open Connect. Open Media recently announced the expansion of its partnership with BOXPARK, becoming the exclusive media partner at the new BOXPARK Liverpool site in the Baltic Triangle.
The company also has ambitious plans to further grow the Open Connect network, with new sites launching in London, Swansea, Belfast, Leicester, Stoke, Manchester, and Milton Keynes in the coming months.
In addition to revenue growth, the business experienced a substantial increase in heartcount in 2023, with a +41% increase in staff compared to the previous year – growing to +47% when factoring 2024 year to date.
This growth includes the expansion of Open’s existing sales team, as well as the introduction of two new roles within the business. New role appointments included Stuart Green, who joined as the technical and servicing lead, bringing over 10 years of experience in the out of home advertising industry, alongside the appointment of a new design lead, Ricky Narito, as Open look to further enhance their offering and service.
Across 2024, Open Media have pledged to further their investment into existing and new sustainability initiatives.
Open Media launched a market-leading carbon calculator solution in partnership with UniLED in 2023, giving clients visibility of their campaign emissions data (alongside standard media metrics), while presenting the opportunity for clients to offset their campaign emissions via their dedicated offsetting partner, Ecologi.
Ending 2023, Open Media declared a Net Zero target of 2040, with aims to halve emissions at least every 10 years. To support this, the business announced two new strategic partnerships with Futureproof and Ad Net Zero. Working together with these partners, Open will look to track emissions on an ongoing basis, while seeking to reduce the carbon footprint of their advertising throughout the entire lifecycle.
Mike Smith, CEO at Open Media, said: “The last 18 months have been remarkable for our growth and expansion, as we continue to push boundaries and redefine the out of home advertising landscape.
“Our expanded partnership with BOXPARK and the upcoming launches in Swansea and Belfast are testament to our commitment to providing cutting-edge advertising opportunities in key locations. With a dedicated team and a clear vision, we are poised to make a lasting impact in the world of out of home advertising.”
