Global OOH ads to surpass print spend by 2026: Market report

Global OOH (out-of-home) advertising could surpass print and become the third most popular advertising format by 2026, according to a report by ad agency Dentsu Inc. Headquartered in Tokyo, Dentsu Inc is a Japanese international advertising and public relations. According to the agency, Global Ad Spend Forecasts for 2023 says global advertising spending is expected to grow by 3.3 percent in 2023 to reach US$727.9 billion. The adjusted Dentsu Global Ad Spend Forecasts for 2023 points to be continued growth, albeit adjusted marginally downwards from the 3.5 percent predicted in the December 2022 report, in the most part due to macroeconomic factors, said Dentsu.

Exploring behind the headlines, the Dentsu report also shows growth driven by media price inflation rather than increased advertising volume. It further stated that the global outlook however is more positive with spend set to accelerate faster in 2024, increasing by 4.7 percent to reach US$762.5 billion. This boosted ad spend is being driven by major sporting and societal focal events such as UEFA Euro Championship and the US presidential election. Except for print ad spending, which continues its decline (-4.8 percent), other media channels are holding ground, with incremental year on year increases for OOH (+3.8 percent), cinema (+2.1 percent) and audio (+0.8 percent), the report said.