The World Out of Home Organization has expanded its Global Market Index to include 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.
In the just completed 2023 survey OOH worldwide revenue has exceeded $40bn for the first time with a market share against other media of 5.1%, up from 4.7% in 2022. Peak market share was pre-pandemic 2019’s 5.8% on revenue of $36bn.
By region US market share was lowest at 3.05 (although it remains the second biggest by revenue behind China), 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.
Full details of Global Market Index, including regional breakdowns, are now available to WOO members who include media owners, national associations, tech companies and media agencies.
WOO President Tom Goddard says: “Through Global 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. 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. Global Index provides an invaluable road map for the industry’s future.”
from Digital Marketing Education https://ift.tt/hjA8qmK
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