Out of Home Advertising Up 2% in Q1 2018
WASHINGTON, DC –June 4, 2018 – Out of home (OOH) advertising revenue rose 2% in the first quarter of 2018 compared to the previous year, accounting for $1.68 billion, based on figures released by the Outdoor Advertising Association of America (OAAA). The revenue increase marks eight years of consecutive growth for the OOH industry.
“An important part of OOH’s growth has been advertisers in the tech and digital sectors because of its ability to efficiently reach massive audiences," says OAAA president & CEO Nancy Fletcher. "Our resonance with this sector is only expanding. In the first quarter alone, Adyen, Carvana, LinkedIn, LogMeIn, and Zelle all invested more in OOH than they had in any of the previous five years.”
Four of the top 10 product categories posted increases more than three times higher than total OOH growth, including Government, Politics and Organizations +9.9%; Miscellaneous Local Services & Amusements +8.8%; Insurance & Real Estate +8.4%; and Financial +8.3%. The Government, Politics and Organizations growth was fueled by increases in state and local, and ballot issue campaign spending.
Ranked in order of OOH spending, the top 10 advertisers in the first quarter were McDonald’s, Apple, Metro PCS, Netflix, Geico, US Army National Guard, American Express, M&Ms, Chevrolet and Universal Pictures.
More than one-quarter of the top 100 OOH advertisers more than doubled their OOH spend from Q1 2017 including: Adyen, Carvana, CVS, DirecTV, Entercom, Ford, HCA Hospital Corp Of America, Hilton Hotels/Resorts, Honda, Hyundai Dealer Assn, Itcanwait.com, Jimmy Johns Gourmet Sandwich Shop, LinkedIn, LogMeIn, M&Ms, Netflix, NYC Department of Health & Hygiene, T-Mobile, TNT, Turkish Airlines, US Army, US Army National Guard, Warner Bros, YouTube, Zelle and Zoom Video Communications.
“More brands are realizing the power of OOH to increase the effectiveness of other media investments,” says Stephen Freitas, OAAA chief marketing officer. “According to a new study about media mix optimization, advertisers should consider doubling and tripling current levels of OOH to maximize ad spend across any category.”
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 digital and static billboard, street furniture, transit, alternative, and 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 Wide-Format Impressions.
