Outsmart, the trade body for the Out of Home (OOH) advertising industry has announced that Out of Home revenue for the fourth quarter of 2021 saw growth of +65% year on year with total revenues of £336m.
The figures, collated by PwC, show that the strong Q4 contributed towards annual Out of Home revenues of £901 million, up +29% from 2020.
Digital Out of Home had another quarter of significant growth with an increase of +70% and accounted for 66% of total Q4 Out of Home revenue. For the year, Digital accounted for 64% of total Out of Home revenue. Classic Out of Home revenues increased too with +55% on the quarter, and +14% on the year.
The wider economic context is positive with the UK economy rebounding with +7.5% increase in GDP during 2021. Total advertising spend in 2022 looks set to be stronger than expected too, with AA/WARC forecasting a 12.6% increase over 2021 and +27.7% forecast in Out of Home advertising.
Justin Cochrane, Chair of Outsmart comments, “Out of Home continues to gain pace with strong results on both the quarter and year, reflecting audiences returning across all environments, and the continued effectiveness of Out of Home to reach the UK population.” Andy Lobo, Senior Manager at PwC comments, “The Out of Home sector has demonstrated a strong recovery in 2021, now up to 70% of 2019 levels, despite disruption from restrictions in the first half of the year and Omicron challenges in Q4. We’re seeing the sector emerge with a much higher share of digital revenue, adding further flexibility and dynamism to advertisers.”
Visit the Outsmart website to download a detailed breakdown of OOH revenue figures.