Growth of the out-of-home (OOH) industry shows no sign of slowing down, according to recently released figures from trade body Outsmart.
Q1 revenues from 2023 show a 5.1 per cent rise compared to the same period in 2022. The industry, in the last quarter alone, was worth £251m – proof that brands are continuing to see the value of outdoors.
This is against a backdrop of other traditional forms of advertising – such as national and regional print, direct marketing and radio – all predicted to shrink this year, according to the Advertising Association/WARC. The organisations have forecast a 4.9 per cent increase in OOH spend in 2023 versus total advertising spend growth of just 0.5 per cent.
While the share of market for digital outdoor advertising stayed stable at around 61 per cent, revenue from that sector grew 6.8 per cent. Classic billboards have also grown 2.5 per cent year on year, according to Outsmart’s data.
Paul Inman, managing director at outdoor advertising operator 75Media, said: “Things understandably dipped during the pandemic, so it’s fantastic to see the out-of-home industry soaring again. OOH globally is forecasted to grow 12.7 per cent 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.
“It’s such a flexible medium too, it’s something you can get really creative with and which can have a huge impact. People still talk about billboards – which isn’t something you really get with many other forms of advertising. Plus, they strike the ideal balance between being relatively unintrusive and successfully targeting potential customers at a time when they’re most likely to engage with brands.”
The team at 75Media has also created a guide to creating eye-catching billboards, with advice for those looking to capitalise in the growth in OOH and make advertising spend makes a splash.
