DOOH Ad Revenues Up 28% In Q1 2024: JCDecaux

May 6, 2024 by Dave Haynes

If the business results of the biggest outdoor advertising company on the planet are a useful industry health indicator, the digital out of home sector is having a good 2024 – with the French firm JCDecaux reporting DOOH revenue is up 28%.

Digital is now almost 36% of group revenue for the company, which saw overall revenues up 11% in Q1.

The Digital OOH side of Decaux’s business is also seeing what it calls “continued strong programmatic revenue growth, enhanced by the increased adoption of this new way of trading our media by advertisers including through the VIOOH SSP (Supply Side Platform) and Displayce DSP (Demand Side Platform).”

From the press release on Q1 performance:

All activities recorded strong organic revenue growth: Street Furniture grew by +9.2% with continued strong momentum, Transport grew by +15.1% reflecting the solid recovery in both airports and public transport systems in all geographies except in China, and Billboard grew by +7.0% driven by its most digitized markets.

All geographies grew positively in Q1 including double-digit revenue growth in United Kingdom, Asia-Pacific and Rest of the World. The gradual recovery of our activity in China, which remained well below pre-covid levels, is continuing with a high single-digit organic revenue growth rate this quarter.

As far as Q2 is concerned, we expect organic revenue growth around +12.0% driven by continued strong digital revenue growth across all business segments and including the positive impact of the Paris Olympics and the UEFA Euro 2024 in Germany.

We are confident that Out of Home (OOH) will continue to grow its market share in a fragmented media landscape with Digital Out of Home (DOOH) being the fastest growing media segment. JCDecaux as the industry leader and the most digitised global OOH Media company is well positioned to benefit from this digital transformation.”

This is a table breaking revenues down by segment:

By activity:

^{a. Excluding acquisitions/divestitures and the impact of foreign exchange}

Also from the press release:

Please note that the geographic comments below refer to organic revenue growth.

STREET FURNITURE
First quarter adjusted revenue increased by +10.0% to €400.8 million (+9.2% on an organic basis). UK, Asia-Pacific and Rest of the World all grew double-digit. France recorded mid-single-digit growth, while the rest of Europe saw high-single-digit growth.

First quarter adjusted advertising revenue, excluding revenue related to sale, rental and maintenance of street furniture was up +9.8% on an organic basis.

TRANSPORT
First quarter adjusted revenue increased by +13.5% to €288.2 million (+15.1% on an organic basis), reflecting the solid recovery of our activity in both airports and public transport systems in all geographies except in China. Most geographies grew double-digit. Transport remained meaningfully impacted by the lower level of activity in China compared to pre-covid.

BILLBOARD
First quarter adjusted revenue increased by +9.4% to €112.6 million (+7.0% on an organic basis) driven by the most digitised markets, while France decreased due to the ongoing rationalisation of our inventory in line with regulations. UK and Rest of the World were the drivers of growth with a double-digit increase.