OOH hits USD $41.9n, 5.2% of global expenditure

The 2024 WOO Expenditure survey has been released; the survey captures expenditure globally for OOH from 2023 and gives estimates of OOH expenditure for 2024. WOO members and OOH associations worldwide completed the survey, representing the most comprehensive OOH expenditure survey globally.

Global OOH spending in 2023 reached $41.9bn USD and represented 5.2% of global ADEX – breaking through the $40bn barrier, 5% barrier and eclipsing the 2019 revenue figure of $36.3bn. OOH spending is forecast to grow to $45.3bn USD in 2024.

Regionally, APAC dominates with almost half of global OOH spending at $20.2bn across 40% of global GDP. Europe reports $10.3bn revenue, 25% of the total in line with its share of global GDP. North America ($9.4bn), LATAM ($1.3bn) and Africa ($0.7bn) track behind their share of GDP – although expenditure reporting in Africa is more challenging and is likely to be under-reporting much of the informal economy.

Global DOOH expenditure rose to $16.7bn USD in 2023, representing almost 37% of all OOH revenues, and remains the main driver of OOH revenue growth globally.

Investment in DOOH infrastructure varies across the world, with Europe ahead of the global average at 39.2%, APAC just under the average at 36.1%, North America at 32.9%, LATAM at 31%, and Africa at 20.1% of total OOH revenues.

The ‘headroom’ for growth in DOOH is exemplified by territories that have invested heavily in DOOH screens – of the top 10 markets by overall OOH volume: Australia (76% of OOH revenue), UK (65%), Germany (41%), China (40%) and South Korea (40%); lead the way in driving growth through DOOH.

Programmatically traded DOOH grew to a reported total spend of $1.2bn USD globally, representing 8.1% of total DOOH revenues. The data is not commonly captured across all markets; it may underrepresent the total revenue traded this way. We anticipate significant growth to this figure in the 2025 report through increasing market adoption and more comprehensive reporting of programmatically traded revenue.

WOO says that building on data for each year back to 2019, the survey allows for tracking the effect of and recovery from the COVID-19 pandemic alongside local economic conditions and the investment into DOOH as it drives growth for OOH globally. WOO says that understanding these growth drivers in particular markets allows its members and OOH Trade Associations to glean insights from other markets that drive growth in their markets.

The 2024 survey was completed by 109 members, covering 85 unique territories – collectively representing 95% of the global GDP and 78% of the global population. Unreported territories are modelled from similar territories based on population and GDP per capita where possible or are excluded from the study.

Additional geographical granularity and data spanning 2019-2024 is available to all WOO members via the members area of the WOO website www.worldooh.org