The UK’s out-of-home (OOH) advertising industry has maintained its impressive momentum, reporting substantial growth in the second quarter of 2024, according to the latest figures released by Outsmart, the trade body for the industry.
The report, compiled by PwC, reveals that overall OOH revenue for Q2 2024 reached £355 million, marking a remarkable 17% increase compared to the same period last year.
Notably, classic OOH advertising, which includes traditional formats such as posters, banners and billboards, demonstrated robust growth with a 10.5% year-on-year increase. This significant uptick highlights the continued relevance and impact of classic OOH formats in today’s diverse media landscape.
Justin Cochrane, Chair of Outsmart, commented on the report, saying, “The momentum across the first half shows 2024 is going to be a great year for Out of Home as brands increasingly utilise its broadcast reach and creative dynamism to captivate huge audiences.”
The positive trend extends beyond the quarter, with the first half of 2024 showing equally impressive results. Total OOH revenues for H1 2024 reached £646 million, representing a 16.7% increase compared to H1 2023. Within this, classic OOH formats maintained steady growth, recording an 8.5% year-on-year increase.
These figures underscore the resilience and adaptability of the OOH sector, which continues to play a crucial role in effective advertising strategies. The strong growth in classic OOH advertising demonstrates its enduring effectiveness in reaching and engaging audiences across various environments.
At Bay Media, we’re encouraged by the strong performance of classic OOH advertising. These results reaffirm our commitment to providing impactful, traditional OOH solutions that deliver measurable results for our clients. As the UK’s leading provider of lamppost banner advertising, we continue to innovate within the classic OOH space, offering eye-catching and strategically placed advertising opportunities that resonate with audiences.
The sustained growth in classic OOH revenue demonstrates that traditional formats remain a cornerstone of effective marketing strategies. As we move deeper into the second half of 2024, we anticipate continued strong performance for the OOH sector, with classic formats playing a vital role in helping brands achieve their marketing objectives.
Bay Media, the UK’s leading provider of lamppost banner advertising, delivers a comprehensive range of classic out-of-home solutions. Our portfolio includes striking illuminated roadside displays and high-impact, large-format billboards strategically placed in bustling shopping centres.
Reach out to us today to explore how our classic OOH advertising can elevate your brand and create memorable impressions.