OOH revenues grow to 84% of pre-pandemic level
Out-of-home revenue more than doubled year-on-year in the first quarter of this year as the sector recovers after Covid-19 lockdowns.
The sector’s revenues grew 146% year-on-year to £238m in Q1 2022, according to the latest figures from Outsmart, the trade body for the OOH industry.
The figures, collected from its members and collated by PwC, show the OOH industry overall revenue has returned to 84% of Q1 2019 levels. Subsequent first quarters have all been impacted by Covid restrictions; the first national lockdown was introduced in March 2020 and a third lockdown was announced on 6 January 2021.
Nicola Mullett, product director for OOH at Mediatel commented: “The industry has worked together over the last two years to make OOH easier too buy, and continued to invest in new advertising opportunities and creative solutions for brands. It is great to see this collaboration and investment paying off.”
Digital OOH revenues grew 143% year-on year, accounting for 60% of total OOH revenues for Q1 2022. This DOOH share was described as “steady” compared to 61% in the same period last year and was up from 53% share registered at the end of the full year in 2019.
Classic (non-digital) OOH revenues were also up 151% year-on-year and up 55% on Q4 2021.
AA/WARC predicted OOH spend in 2022 would grow 31.5% compared to the total advertising industry growth level of 10.7%.
Justin Cochrane, UK CEO of Clear Channel and chair of Outsmart commented: “Out of Home audiences are well and truly back and brands are using its unique and dynamic canvas to resonate with the public at large.”
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