New figures released by the Outdoor Advertising Association of America show that out-of-home advertising revenue rose 4.5% in the second quarter of 2011 compared to the same period in 2010, accounting for more than $1.9 billion.
The continued increase in revenue signals steady industry growth since the second quarter of 2010.
“Out of home continues to improve and remains one of the stronger performing media segments,” says Nancy Fletcher, OAAA president & CEO. “As people become more connected while on the go, media buyers are realizing the value of the out-of-home medium and its role as a vital strategic element in successful media plans.”
The industry has recently seen a surge in advertisers using the medium. More than 12,000 new advertisers used the out-of-home medium in the second quarter of this year compared to the first quarter. Similarly, over 9,100 advertisers used out-of-home in the first half of this year that didn’t use the medium in the first half of last year.
“The economy is recovering more slowly than most analysts had anticipated,” ssays Stephen Freitas, OAAA chief marketing officer. “However, out-of-home has been able to sustain growth due in large part to the continued integration of digital technology and the further rollout of TAB’s EYES ON ratings.”
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 billboard, street furniture, transit, and alternative media, as well as digital platforms for advertising spend.