Outsmart has announced that digital out-of-home (OOH) advertising revenue reported for the quarter April to June 2017 is £127 million – a significant 30% increase on Q2 2016. Digital now accounts for 46% of all Out of Home advertising revenue, an increase of 10 percentage points on Q2 2016.
The conversion of premium classic OOH sites into digital, coupled with advertiser adoption of the flexible, dynamic and creative opportunities offered by digital formats, is driving significant growth in digital OOH.
Total OOH revenue for the quarter is £278 million. This is up 1.7% year on year.
On a half-yearly basis, the market is up 0.6% on H1 2016 as a result of the growth in Q2 this year. The growth also indicates that the OOH industry is in a strong position as it embraces the opportunities offered by technology.
Justin Cochrane, Chair of Outsmart, explained:
“The OOH industry is rebalancing as the digital transformation continues, but classic OOH will continue to have a vital role for advertisers with its scale, reach and frequency.”
Mark Maitland, Strategy Partner at PwC Media, commented:
“This quarter Digital Out of Home accounts for the highest proportion of revenue the sector has seen. We are looking forward to seeing the further developments in the use of technology for both display and buying that will push this number closer to the 50% mark.”