The traditional media format looks set to grow throughout the year and into 2015.
According to data released by Advertising Association/ Warc Expenditure Report, a prediction of annual growth of 2.7% in 2014 means a total of £1,017 billion. This is the first time the sector will have broken the £1bn mark.
![Out of Home Advertising - Digital billboards]( "Out of Home Advertising - Digital billboards")
The report reveals further that the Out of Home sector has grown in all except four of the last 31 years. These dips happened following economic recessions and the dotcom crash in 2001.
The London Olympics in 2012 meant there was a noticeable lift to OOH adverts with spend rising to 25.4% year-on-year in the third quarter of 2012.
One reason for the sector’s recent success is due to its adoption of digital technology.
Digital is clearly the driving force of this surge in revenue for outdoor media.
Audience measurement research by the Outdoor Media Centre, states that roadside panels accounted for 28.4% of all out of home panels monitored in March this year. This is a huge 372,818 panels. The biggest formats after this were carriage interiors at 24.4% and bus panels at 18.1%.
Mike Baker, CEO at the Outdoor Media Centre, said:
"In 2013, outdoor beat expectations, growing 2% over the spectacular Olympic year. What's behind the continued growth? Digital is the main driver, with consistent investment by media owners into high profile sites such as Clear Channel's Storm panels on Cromwell Road and Outdoor Plus' Vauxhall Cross.
"Importantly, the footprint of digital has expanded geographically, including JCDecaux's Trinity Leeds, Mediaco's Citylive sites in Manchester, as well as new sites in Newcastle (Ocean), Birmingham (Signature) and Glasgow (Forrest) and Cardiff (blowUP).
"Advertisers continue to find a place for outdoor on their schedules, and the number of million-pound clients now stands at 159. Route, our audience measurement system, now covers just about all the environments."
Find out more information about out of home advertising.
According to data released by Advertising Association/ Warc Expenditure Report, a prediction of annual growth of 2.7% in 2014 means a total of £1,017 billion. This is the first time the sector will have broken the £1bn mark.
The report reveals further that the Out of Home sector has grown in all except four of the last 31 years. These dips happened following economic recessions and the dotcom crash in 2001.
The London Olympics in 2012 meant there was a noticeable lift to OOH adverts with spend rising to 25.4% year-on-year in the third quarter of 2012.
One reason for the sector’s recent success is due to its adoption of digital technology.
Digital is clearly the driving force of this surge in revenue for outdoor media.
Audience measurement research by the Outdoor Media Centre, states that roadside panels accounted for 28.4% of all out of home panels monitored in March this year. This is a huge 372,818 panels. The biggest formats after this were carriage interiors at 24.4% and bus panels at 18.1%.
Mike Baker, CEO at the Outdoor Media Centre, said:
"In 2013, outdoor beat expectations, growing 2% over the spectacular Olympic year. What's behind the continued growth? Digital is the main driver, with consistent investment by media owners into high profile sites such as Clear Channel's Storm panels on Cromwell Road and Outdoor Plus' Vauxhall Cross.
"Importantly, the footprint of digital has expanded geographically, including JCDecaux's Trinity Leeds, Mediaco's Citylive sites in Manchester, as well as new sites in Newcastle (Ocean), Birmingham (Signature) and Glasgow (Forrest) and Cardiff (blowUP).
"Advertisers continue to find a place for outdoor on their schedules, and the number of million-pound clients now stands at 159. Route, our audience measurement system, now covers just about all the environments."
Find out more information about out of home advertising.