• by Fern Siegel , August 1, 2023

The World Out of Home Organization's Global Out of Home Media Spend Index now includes first-party data from 81 territories, accounting for 95% of the world's GDP. The index sources data from WOO's 200 members and others to give insights into OOH revenue and market share.

In its 2023 survey, OOH worldwide revenue is forecast to exceed $40 billion for the first time with a market share against other media of 5.1%. That number is up from 4.7% in 2022. (The pre-pandemic market share was 5.8% with revenue of $36 billion in 2019.)

Breaking down the findings by regions: North America’s market share was lowest at 3.05, 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 $15 billion, 37% of the total, forecast for 2023.

North America remains the second-biggest territory by revenue after Asia.

WOO President Tom Goddard says the companies' Global OOH Media Spend Index "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. We expect further growth of above 5% 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."

WOO includes major global companies, such as JCDecaux, Clear Channel, Ströer, Global Outdoor, blowUP media from Europe, OUTFRONT Media and Lamar from the US, Selvel One from India, Primedia from South Africa, oOh!media from Australia and Asiaray from Hong Kong. OOH associations represented on the corporate board: the OAAA in the US, Alooh from Latin America, the FAW from Germany and the OMA in Australia.