Out of Home Reports Strongest Revenues Growth Ever of 277% in Q2 2021
Outsmart Out of Home Revenues Q2 Report
Out of Home reports strongest ever growth of 277% in Q2 2021
Outsmart, the trade body for the Out of Home (OOH) industry ( UK) has announced that OOH revenue for April to June 2021 increased 277% year-on-year, the strongest quarterly growth ever recorded by the medium and generating total revenues of £198m. Traditional and digital Out-of-Home revenues increased by 339% and 247% respectively. Digital’s share of revenue was 63%, and this remains significantly higher than its pre-pandemic share (53% in Q1 2020).
After a challenging start to the year, Out of Home saw strong sequential recovery throughout the months of the second quarter and it is expected to continue into the second half of the year.
The figures, collated by PwC, indicate recovery is underway in the sector since Covid-19 restrictions were lifted.
The outlook for the remainder of 2021 is positive with the Advertising Association/WARC forecasting total UK advertising spend to grow 18.2% this year and Out-of-Home predicted to grow 29.3%.
Justin Cochrane, Chair of Outsmart, comments “Out of Home’s strongest growth quarter ever, albeit based on a very challenging Q2 2020, is great to see. We’ve felt the momentum building and are looking forward to this continuing through the rest of the year.”
Mark Maitland, Head of Entertainment and Media at PwC, says “As restrictions in the U.K. continued to ease in Q2 and more people were out and about, it’s good to see that advertising spend has started to come back to the OOH advertising sector. With each passing month, the industry is getting closer to parity with pre-pandemic performance”.
Reactive comment from Alistair MacCallum, CEO UK, Kinetic Worldwide, “Out-of-Home is experiencing an incredibly strong recovery as audiences return. These figures are testament to the transformation seen across the industry to make OOH smarter, faster, and more adaptive throughout COVID, and its unique ability to publicly and inclusively, reach and engage audiences at scale. With the UK returning to ‘real life’ in large numbers, there’s every reason to be hugely optimistic as both classical and digital OOH return to the sustained growth path we were seeing in the years before the pandemic.”
Visit the Outsmart website to download a detailed breakdown of OOH revenue figures.
About Outsmart: Outsmart is the UK trade body for the Out of Home (OOH) industry. We collaborate with all parts of the industry to provide a central reference point for our members, aiming to protect and advance their relationships with the advertising community, the public and national and local government.
About PwC: At PwC, our purpose is to build trust in society and solve important problems. We’re a network of firms in 158 countries with more than 284,000 people who are committed to delivering quality in assurance, advisory and tax services. Find out more and tell us what matters to you by visiting us at http://www.pwc.com. PwC refers to the PwC network and/or one or more of its member firms, each of which is a separate legal entity. Please see http://www.pwc.com/structure for further details.
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