Out of home advertising revenue rose seven percent in the third quarter of 2019 compared to the previous year, accounting for USD 1.98 billion, based on figures released by the Out of Home Advertising Association of America (OAAA). Year-to-date 2019 the OOH industry is at $6.44 billion, an increase of seven percent over 2018.
OAAA President & CEO Anna Bager told us “The strong quarterly growth occurred across all four major OOH channels: billboards, street furniture, transit, and place-based. OOH is growing and increasing share as more brands experience the effectiveness of the medium.”
Among the top 10 revenue categories, five matched or exceeded the quarterly growth, including Miscellaneous Local Services and Amusements; Media and Advertising; Insurance and Real Estate; Restaurants; and Communications.
Ranked in order of OOH spending, the top 10 advertisers in the second quarter were: State Farm, Geico, McDonald’s Apple, Amazon, AT&T, Anheuser-Busch, Coca-Cola, CBS and Comcast.
Of the top 100 OOH advertisers, 74 increased spend over Q3 2018, and one-quarter of them more than doubled OOH investment. OOH’s strong performance in the tech category continued with almost one-quarter of the top 100 representing this category including the entire FAANG suite of companies – Facebook, Apple, Amazon, Netflix, and Google – in the top 30.
Stephen Freitas, OAAA’s chief marketing officer said “OOH’s ability to reach mass audiences makes it an important addition to media plans, amplifying other ad investments for a more immersive consumer experience. In particular, OAAA-sponsored research from MRI/Simmons and Nielsen proves OOH’s power to engage consumers while using their mobile devices”.
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.