World Out of Home president warns of economic downturn

Tom Goddard, president of the World Out of Home Organization (WOO), has released a New Year’s message to the out-of-home (OOH) industry, referring to potential economic downturn in 2025.

In his message to the industry, Goddard speaks about “clouds looming on the global economic horizon”, saying that “in 2025 we have arguably more than our fair share”.

Global economic growth is projected to remain at 2.8% in 2025, essentially unchanged from 2024, according to a UN flagship report released last week. This is only just above the 2.5% threshold that is often associated with a recession.

However, the OOH industry has shown signs of continued and sizeable growth in 2024. For example, Outsmart, the trade body for the OOH advertising industry, recently reported that UK spending in OOH for 2024 reached £1bn, an increase of 12% compared to the same period last year.

Despite the message about potential difficulties for 2025, Goddard stresses that “the OOH industry nevertheless finds itself in good shape as we enter a New Year”.

The WOO president goes on to talk about the adaptability OOH. He claims that “of all legacy media it has adapted most effectively to the digital with our unique combination of creativity and technology”.

But he emphasises that continued effort is still needed to keep up the momentum, saying that “there is, though, still much to do”.

At WOO’s recent Europe forum in Milan, Goddard offered a tongue-in-cheek set of suggestions that he dubbed the ‘Ten Commandments’ for the OOH industry going forward.

These included repositioning classic OOH to work alongside digital out-of-home (DOOH), emphasising the features of the traditional medium.

Automation and utilising modern technology was also a key focus, calling on the industry to digitise more inventory, automate the entire trading process, and harness the potential benefits of AI both in campaigns and for automating processes.

The ‘tenth commandment’ was listed as ‘Enjoy Yourself’. Speaking about this in his New Year’s message, Goddard says: “This is a reminder to us all that if we approach our challenges with vigour and optimism then we can drive OOH to even greater heights.”

Goddard then outlines the events hosted by WOO for 2025. This includes WOO’s Annual World Congress, which will be held in Mexico City for 2025. This will mark the first time the WOO World Congress has visited Latin America.

At the event, leaders from across the out-of-home (OOH) sector will gather to discuss key topics and takeaways within the industry, with the aim of fostering new conversations and partnerships.

Running from June 4th to 6th next year, the Congress will this year be co-hosted by the Latin American OOH trade organisation, ALOOH.

Other events hosted by WOO will also include a one-day conference in association with the Japanese OOH industry on February 20th and the APAC Forum in Seoul, South Korea, scheduled for November 5^th to 7^th.

Goddard ends his official address with a reference to the impact of potential political upheaval in 2025. He concludes: “I have no doubts that we shall overcome whatever the political world throws in our direction, as we have done consistently over the years.

“We may be the world's oldest medium, but let's remind marketers in 2025 that we're still the best.”