Out of Home reports strong growth of +9.8% in the third quarter of 2019.
Outsmart, the trade body for the Out of Home (OOH) industry, has announced that Out of Home revenue reported for the quarter July to September 2019 saw the total market grow by +9.8% year-on-year from £300 million in Q3 2018 to £330 million in Q3 2019.
The report, conducted by PwC, reveals that Digital Out of Home saw growth of +17.1% in Q3, comparable to Q2 (+17.2%) and stronger than Q1 2019 (+11%). Digital’s share of total Q3 revenue was 54%.
Classic Out of Home also saw growth in Q3 (+2.4%), slightly up on Q2 (+2.3%).
New data released by Route shows the continued investment in digital screens is fuelling reach. Digital Out of Home is now seen by 69% of the adult population each week. The reach of Classic Out of Home has little room to grow, with 98% seeing a poster advertisement each week, a number that has been stable for the past few years.
Justin Cochrane, Chair of Outsmart, comments that “These strong results show Out of Home’s mix of digital and classic formats are trusted by advertisers to deliver both efficient planning and massive reach, with fantastic creative opportunities that build brands.”
Visit the Outsmart website to download a detailed breakdown of OOH revenue figures.