Global Out of Home Media Spending Surges to $40 Billion

The World Out of Home Organization (WOO) has unveiled its expanded Global Out of Home Media Spend Index, incorporating first-party data from 81 territories, representing 95% of the world’s GDP. This comprehensive index, collating data from WOO’s 200 members and others, offers an accurate perspective on out of home (OOH) revenue and market share.

Source: Versace

The 2023 survey reveals that OOH worldwide revenue is projected to surpass $40 billion for the first time, with a market share of 5.1% against other media, an increase from 4.7% in 2022. Prior to the pandemic, the market share stood at 5.8%, with revenue reaching $36 billion in 2019.

Breaking down the figures by region, North America exhibited the lowest market share at 3.05%, although it remains the second-largest territory by revenue after Asia. Europe’s market share stood at 5.9%, Asia at 7.2%, Australia/New Zealand at 5.0%, Africa at 12.5%, and LATAM at 5.5%. Notably, digital OOH is progressively gaining ground, accounting for $15 billion, or 37% of the total global market, forecasted for 2023.

The World Out of Home Organization has expanded its Global Out of Home Media Spend Index to include 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.

In the just completed 2023 survey OOH worldwide revenue is forecast to exceed $40bn for the first time with a market share against other media of 5.1%, up from 4.7% in 2022. Pre-pandemic market share was 5.8% with revenue of $36bn in 2019.

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. 

WOO President Tom Goddard says:

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. 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.   

The WOO Database is a regularly updated, invaluable resource for WOO member companies, national associations and their employees, containing all the latest data on the Out of Home Industry worldwide. It is managed by WOO Insights Manager Heather Wallace.

The database contains up to date information on developments in the Out of Home world; case studies including invaluable insights into the connections between OOH and mobile, regulation changes in markets across the world and the latest official reports from National Associations worldwide.