The Washington, D.C.-based Outdoor Advertising Association of America reports that out-of-home advertising revenue rose 7.7 percent during the second quarter of this year, compared with the same period a year ago. The total revenue spent was $2.69 billion.
Year-to-date, the industry is up 7 percent over last year, driven by that second-quarter growth—the highest quarterly growth the industry has seen since 2007.
“The strong quarterly growth occurred across all four major OOH channels: billboards, street furniture, transit, and place-based,” says OAAA president and CEO Nancy Fletcher. “Digital OOH posted the highest increases across all formats, representing 31 percent 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.
“OOH’s ability to deliver mass reach and maintain audience is a significant competitive strength,” says Stephen Freitas, OAAA’s chief marketing officer. “Nielsen found 66 percent of U.S. 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,”.