Global OOH Media Body Says Digital Screens Drive 40% Of Revenue While Only 10% Of Installed Base

November 6, 2024 by Dave Haynes

The head of the World Out of Home Organization says OOH advertising growth, especially in Europe, is the being driven by digital screens, with 40% of revenues from less than 10% of locations.

WOO President Tom Goddard told the WOO Europe forum in Milan this week that “a big opportunity is being missed with Classic (static) Formats, which still account for most OOH locations. In the UK, for example, Classic delivers 90% reach of all adults in a week at about 20% of the cost of Digital. Classic OOH is Out of Home Media’s ‘sleeping giant.'”

Goddard added that Classic is a fantastic branding and directional channel – “try buying a Classic Format near a McDonald’s or KFC and you’ll find they’ve bought it long term because it works for them.”

Global OOH is now a $42B business, and represents over 5% of global ad-spend. Europe has overtaken the US for the first time, according to WOO figures, with China still the market leader and APAC as a whole accounting for about half of global ad-spend.

Summing up, Goddard unveiled his Ten Commandments for OOH growth:

  1. Reposition Classic Channel
  2. Digitize More Inventory
  3. More Ownership consolidation
  4. Measure all formats in all markets
  5. Automate the entire trading process
  6. Collaborate more and get behind National Trade Associations
  7. Control carbon footprints
  8. Harness the potential benefits of AI
  9. Take advantage of Retail Media
  10. Enjoy yourself!

 

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