Out of Home Advertising Up 7.7% in Q2 2019, Highest Quarterly Growth in a Decade
Out of Home (OOH) advertising revenue rose 7.7% in the second quarter of 2019 compared to the previous year, accounting for $2.69 billion, based on figures released by the Out of Home Advertising Association of America (OAAA). Year-to-date 2019 the OOH industry is up 7%, fueled by the highest quarterly growth the industry has experienced since 2007.
“The strong quarterly growth occurred across all four major OOH channels: billboards, street furniture, transit, and place-based," said OAAA President & CEO Nancy Fletcher. "Digital OOH posted the highest increases across all formats, representing 31% of total OOH revenue in the second quarter.”
Among the top 10 revenue categories, six outperformed national GDP growth in the second quarter, including Miscellaneous Local Services and Amusements; Retail; Media and Advertising; Public Transportation, Hotels and Resorts; Insurance and Real Estate; and Automotive Dealers and Services.
Ranked in order of OOH spending, the top 10 advertisers in the second quarter were McDonald’s, Geico, Apple, State Farm, Chevrolet, Amazon, Facebook, Anheuser-Busch, AT&T, and HBO.
Almost 70% of the top 100 OOH advertisers increased spend over Q2 2018, and one-quarter of them more than doubled OOH investment. Over one-quarter of the top 100 were tech brands including the entire FAANG suite of companies – Facebook, Apple, Amazon, Netflix, and Google.
“OOH’s ability to deliver mass reach and maintain audience is a significant competitive strength. Nielsen found 66% of US travelers report taking an action on their smartphone after exposure to an OOH ad. By generating engagement in the real world, OOH’s value to brands is stronger than ever,” said Stephen Freitas, OAAA’s chief marketing officer.
OAAA issues full industry pro forma revenue estimates that include, but are not limited to, Miller Kaplan and Kantar Media (which is not adjusted to reflect changes in data sources), and member company affidavits. Revenue estimates include both printed and digital formats of billboard, street furniture, transit, and place-based, which includes cinema advertising.
The preceding press release was provided by a company unaffiliated with Wide-format Impressions. The views expressed within do not directly reflect the thoughts or opinions of the staff of Wide-format Impressions.
