Out of home advertising revenue rose 3.8 percent in the third quarter of 2018 compared to the previous year, accounting for USD 1.85 billion, based on figures released by the Outdoor Advertising Association of America (OAAA). Year-to-date, the OOH industry is up 3.7 percent.
OAAA President & CEO Nancy Fletcher told us “OOH was strong across all four primary formats – billboards, street furniture, transit, and place-based – with the digital OOH sector representing 28% of the total. The immersive and relevant nature of OOH continue to drive interest among brands.”
Among the top 10 revenue categories, those posting increases equal to or greater than the quarterly increase of 3.8 percent were Miscellaneous Local Services and Amusements; Retail, Media and Advertising; Financial; Insurance and Real Estate; Government, Politics and Organizations; and Schools, Camps and Seminars. Driven by local political spend, the Government, Politics and Organizations category was up almost 16 percent.
Ranked in order of OOH spending, the top 10 advertisers in the third quarter were Geico, Apple, McDonalds, American Express, Amazon, CBS, Coca-Cola, Comcast, M&Ms and MillerCoors. Over two-thirds of the top 100 advertisers increased OOH spend above the overall quarterly increase of 3.8 percent. Fourteen technology brands increased OOH spend by double digits in the third quarter including Amazon, Cricket Wireless, Facebook, Groupon, Hulu, Jet.com, Microsoft, Netflix, Oculus, Salesforce, Uber, VM Ware, YouTube, and Zoom Video Communications.
Stephen Freitas, OAAA chief marketing officer said “Brands need presence in the ‘real’ world, and OOH advertising delivers that presence. A digital strategy is incomplete without OOH, and that’s driving significant spend, especially by technology brands.”
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 printed billboards, street furniture, transit, place-based, and cinema advertising.
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