Out of home (OOH) advertising spend grew by 4.5% year-on-year in 2016
Out of home (OOH) advertising spend grew by 4.5% year-on-year in 2016, according to the Advertising Association/WARC Expenditure Report – the UK’s definitive advertising statistics.
The figures represent a sixth consecutive year of growth for the sector, with further growth being forecast for this year and next.
The report shows that digital accounted for 38% of the £1.1bn out of home advertising market in 2016, double the share digital recorded in 2012 and a 22% rise year-on-year.
UK advertising expenditure as a whole grew 3.7% to reach £21.4bn, the seventh consecutive year of market growth.
Growth in UK adspend held steady in Q3 after the June referendum, before reaching £5.8bn in Q4 2016, a rise of 3.9% year-on-year and the highest grossing quarter on record. In real terms, after accounting for inflation, UK adspend topped its pre-recession peak for the first time during both the final quarter and for 2016 as a whole.
Forecasts for the next two years indicate continued growth of 2.5% in 2017 and 3.3% in 2018.