Global OOH Ad Revenue Exceeds $40 Billion For First Time: WOO
August 1, 2023 by Dave Haynes
The World Out of Home Organization’s survey of member organizations suggests worldwide out of home ad revenue is forecast to exceed $40 billion for the first time, and that’s with just a 5.1% slice of the global media pie.
The number was up from 4.7% in 2022, but has not yet caught up with a pre-pandemic market share that was 5.8%, with revenue of $36B in 2019.
WOO’s Global Out of Home Media Spend Index includes first-party data from 81 territories, accounting for 95% of the world’s GDP. Global Market Index sources data from WOO’s 200 members and others to give the most accurate view of OOH revenue and market share.
By macro region, North America’s market share was lowest at 3.05 (although it remains the second biggest territory by revenue behind Asia), Europe 5.9%, Asia 7.2%, Australia/New Zealand 5.0%, Africa 12.5% and LATAM 5.5%. Digital continues to increase its share of the global market with $15bn, 37% of the total, forecast for 2023.
Full details of Global Out of Home Media Spend Index, including regional and sub-regional breakdowns, are now available to WOO members who include media owners, national associations, tech companies and media agencies.
“Through the WOO Global Out of Home Media Spend Index, Out of Home for the first time has truly reliable and up-to-date data on worldwide and regional revenue and global market share,” says WOO President Tom Goddard. “This can only be a further boost to the medium which has been hampered in the past by conflicting data sources.
“From the figures we can see that revenue is rising at a healthy rate, in traditional classic OOH as well as digital, and we expect further growth of above five per cent as we move from 2023 to 2024. Increasing our global share substantially, even amid the digital tidal wave, has to be the industry’s objective. The WOO Global Out of Home Media Spend Index provides an invaluable road map for the industry’s future.”