OOH Market Posts Strongest Q4 Growth
UK Out of Home industry reports strongest Q4 ever in 2019
Outsmart, the trade body for the Out of Home (OOH) industry has announced that Out of Home revenue for the fourth quarter of 2019 saw growth of +4.9% from £358 million in Q4 2018 to £376 million in Q4 2019.
The figures, collated by PwC, show that the strong Q4 contributed towards annual Out of Home revenue of £1,301 million, up +7.6% from 2018, and greater than 2017-2018 growth, which was 5.7%.
Digital Out of Home had another quarter of significant growth with an increase of +14.8% and accounted for 58% of total Q4 Out of Home revenue, its highest ever share. On the year, Digital accounted for 53% of total Out of Home revenue. Classic Out of Home revenues declined with -6.4% on the quarter, and stable on the year at 0.1%.
In March 2020, Route, the audience measurement currency for Out of Home advertising is changing. It will introduce spot level ratings for the medium. This world-first will incorporate an improved means to understand audiences in a more granular way than ever before. The new data will offer advertisers full flexibility in appraising audiences for any campaign size, from a single ad on a single screen to a large national campaign. Out of home audiences will be available for every 15 minute period across the week and will vary according to the month scheduled.”
Justin Cochrane, Chair of Outsmart, comments “Another strong year for Out of Home. These fantastic results reflect the myriad opportunities the medium offers to brands. Taken together with the investment in new gold-standard measurement, Out of Home delivers trust, accountability and effectiveness.” Mark Maitland, Head of Entertainment and Media at PwC, said “These latest figures reflect Out of Home’s ability to reach and engage with audiences of all types and ages. The industry is also reaping the benefits of years of investment in digital technology, with digital’s share of the market reaching a new high of 58% in the most recent quarter.”
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