Out-of-Home Advertising Up 4.7% in Q2 2018
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Washington, DC –August 21, 2018 — Out-of-home (OOH) advertising revenue rose 4.7% in the second quarter of 2018 compared to the previous year, accounting for $2.49 billion, based on figures released by the Outdoor Advertising Association of America (OAAA). Year-to-date 2018 the OOH industry is up 3.6%, fueled by the highest quarterly growth the industry has experienced since Q4 2015.
“OOH’s connection with consumers continues to expand as evidenced by the strong quarterly growth in all four OOH categories: billboards, street furniture, transit and place-based," says OAAA President & CEO Nancy Fletcher. "The industry even outperformed the highest quarterly GDP growth the US has achieved in four years.”
Among the top 10 revenue categories, six outperformed both national GDP growth and OOH quarterly growth in the second quarter including Miscellaneous Local Services and Amusements; Retail; Government, Politics and Organizations; Financial; Insurance and Real Estate; and Schools, Camps and Seminars.
Ranked in order of OOH spending, the top 10 advertisers in the second quarter were McDonalds, Geico, Facebook, Apple, Netflix, Chevrolet, AT&T, American Express, M&Ms and Coca-Cola.
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Almost one-third of the top 100 OOH advertisers more than doubled OOH spend from Q2 2017. Seven of these advertisers included OOH in their Q2 media plans compared to no OOH last year, including Alienware, Dollar-Rent-A-Car, Icon, Indeed, LogMeIn, State Street Advisors and Twizzlers.
“OOH’s strength across product categories is proof of its power to generate results for brands. As a local advertising medium, OOH reaches the broadest audience today, generating consumer engagement and action,” says Stephen Freitas, OAAA’s chief marketing officer.
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, alternative, and cinema advertising.
Source: Outdoor Advertising Association of America
The preceding press release was provided by a company unaffiliated with Wide-Format Impressions. The views expressed within do not directly reflect the thoughts or opinions of Wide-Format Impressions.
