Q1 2020 #OOH @OutsmartOOH Revenues
Adrian J Cotterill, Editor-in-Chief
Outsmart, the trade body for the Out of Home (OOH) industry in the UK has announced that Out of Home revenue for the fourth quarter of 2019 saw a slight decline of -3.1% from GBP 285 million in Q1 2019 to GBP 276 million in Q1 2020.
The figures, collated by PwC, show that prior to the lockdown imposed in March 2020 in response to the #Covid19 pandemic, the OOH industry was on track for growth, with 1.8% and 3.8% year on year growth for January and February respectively, versus 2019.
Digital Out of Home showed Q1 2020 growth of 5.2% compared to +10.9% in Q1 2019 and Classic Out of Home declined at -11.1% compared to +3.1% in Q1 2019.
The lockdown has of course created challenging market conditions for Out of Home with a significant decline expected in Q2 and recovery only beginning in Q3 and Q4.
Justin Cochrane, Chair of Outsmart, told us “It is a challenging period for many sectors, including Out of Home. As lockdown eases the opportunities for brands to reconnect with their outdoor audience grow by the day.”
Outsmart stated that Q2 is expected to be very challenging, particularly April but towards the end of Q2 and for the remainder of the year the picture is more positive – as the UK hopefully exits lockdown we should see an increasing number of people returning to work, and greater footfall in public spaces as people get out and about.
More detail can be found here.
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