Out-of-home advertising revenue rose 4.4% in Q3, 2012, compared to the same period in 2011, accounting for more than $1.5 billion, according to the Outdoor Advertising Association of America , Washington.
The increase in revenue highlights the industry’s positive revenue growth for more than two years. Revenue estimates include billboard, street furniture, transit, alternative, and cinema advertising, as well as digital platforms for advertising spending.
“Advertisers continue to increase spending on OOH, recognizing the medium’s strategic uses, innovative solutions, and versatile mix of formats that can surround consumers while away from home – where they spend 70 percent of their waking hours,” says Nancy Fletcher, OAAA president & CEO.
Top advertiser in OOH spending for the first nine months of 2012 was McDonald’s, followed by Verizon and Chase.
In addition to these major brands, media advertisers such as FOX and NBC have maintained a place on the top spenders list throughout 2012. BBC America grew its spending by nearly 1,000% this year.
Miscellaneous Services and Amusements recorded the highest revenue growth as the segment continues to lead OOH spending each quarter. Retail came in a close second in the months leading into back-to-school and early holiday shopping, up by more than 16% in Q3.
OOH ad revenue also grew in the Government, Politics and Organizations segment this year, up 14% in 2012 compared to the same time frame in 2011.
OOH saw an increase in political ad spending this election year. Political candidates and action groups put OOH’s innovation to use, embracing flexible digital networks and seizing a captive commuter audience.”