According to a new report from Outsmart, the UK’s out of home advertising industry experienced strong growth in the third quarter of 2022, with revenues totaling £306 million, a 13% increase from the same period in 2021.
The growth reflects the continued bounceback of the industry since the impact of coronavirus during 2020 and early 2021. The results are also a particularly positive sign given the challenges currently faced by the UK economy.
Justin Cochrane, Chair of Outsmart, commented on the report, saying, “Despite wider economic challenges, Out of Home continues to offer the trust and creative flexibility that advertisers demand.”
Classic OOH advertising, which includes formats such as lamppost banners and 6 sheet posters, saw a 13% increase in revenues compared with the same period in the previous year, a figure which was matched by digital OOH.
The findings demonstrate the resilience and adaptability of the out of home advertising industry, and suggest that it will continue to thrive and play a vital role in the advertising landscape as we move into 2023.
Bay Media are the biggest provider of lamppost banner advertising in the UK. If you would like more information, don’t hesitate to reach out to us.