Out-of-Home Advertising Continues Robust Growth in H1 2024
August 8, 2024 – The latest expenditure results from the Outdoor Media Association for the first half of 2024 confirm the sustained growth trajectory of Out-of-Home (OOH) advertising, which saw a significant 26% increase compared to the same period last year. This impressive growth underscores the trust and investment that advertisers and brands are placing in the OOH medium.
A major driver behind this growth is the consistent investment in Digital Out-of-Home (DOOH) advertising. Media owners’ investments in expanding DOOH formats across multiple environments have further fuelled this trend. Additionally, transport and small format OOH advertising also experienced notable increases, with transport growing by 32% and small format by 24% compared to H1 2023.
Retail remains the highest investing category, with a 13% growth in H1 2024, continuing its strong performance from FY 2023. Grocery groups are leveraging OOH to broadcast their value messages, driving consistent reach. This category’s performance is further bolstered by the active presence of fast food, takeaway, and delivery platforms competing for customer share.
Household services emerged as the second highest performing category, showing an 11% year-over-year increase. This growth is attributed to the launch and promotion of new TV platforms, which have significantly driven up advertising spend in this sector.
Diageo holds its position as the top spending advertiser in OOH for H1 2024. Notably, Unilever has secured a place in the top 10, with substantial investments in new product launches and support for existing brands.
A deeper analysis into mid categories revealed several interesting trends. The retail general mid category saw the largest growth in H1, driven by brands like Specsavers and M&S. Household telecom, TV, and online services experienced an 80% growth, spurred by new product launches such as Sky Stream, Vodafone Play, and new series from online platforms.
While some mid categories showed decreases, the overall growth picture remains positive, with minimal reductions in spend.
Aoife Hudson, Deputy Managing Director at Talon said, “These results affirm the growing confidence and investment in Out-of-Home advertising from leading brands and advertisers. The significant increase in Digital Out-of-Home formats and the strong performance across various categories highlight the dynamic and evolving nature of OOH. We are excited to continue driving innovation and delivering impactful advertising solutions for our clients.
The impressive growth of Out-of-Home advertising in the first half of 2024 highlights the medium’s increasing value and effectiveness for brands and advertisers. As the industry continues to innovate and expand, particularly in the digital space, OOH remains a vital component of comprehensive advertising strategies.