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Out of Home Advertising Leaps 7% in Q3

Date: November 30, 2010

Summary:
Out of home advertising industry revenue rose 7 percent in the third quarter of 2010 when compared with the same period in 2009, accounting for $1.44 billion, according to figures released by the Outdoor Advertising Association of America (OAAA) today.

Body:

Contact: Stephen Freitas
(202) 833-5566
sfreitas@oaaa.org
 
For Immediate Release – November 30, 2010
Out of Home Advertising Leaps 7% in Q3
 
 
(Washington) – Out of home advertising industry revenue rose 7 percent in the third quarter of 2010 when compared with the same period in 2009, accounting for $1.44 billion, according to figures released by the Outdoor Advertising Association of America (OAAA) today. The increase marks the second straight quarter of growth. Year to date, out of home advertising revenues are up 3.3 percent over 2009.

“The US economy continues to improve and out of home advertising is improving with it,” said OAAA President and CEO Nancy Fletcher. “Revenues are increasing, the medium is better measured, and national advertisers are recognizing the potential of the medium.”

“Every format is recovering from the lows experienced during the recession,” said Fletcher. “Marketers are spending money again, but they’re more careful. They’re looking for cost effective ways to reach mass audiences and there’s no better way to do that than with out of home.”

The media and financial segments helped drive the increase. The financial category spending on out of home grew by a third compared to the same period a year ago.

“The financial sector was hit hard by this recession,” said Stephen Freitas, OAAA’s chief marketing officer. “Companies like JP Morgan Chase, HSBC, and American Express are making a comeback and out of home is helping.” Freitas noted that the industry’s third quarter results are in line with outdoor advertising’s historically robust rate of growth.

OAAA issues full industry revenue estimates that include, but are not limited to, Miller Kaplan and Kantar Media data on out of home, member company affidavits, and media projections based on a mix of recognized nationally syndicated data sources. Revenue estimates include billboard, street furniture, transit, alternative, and cinema advertising spending.

For more information on specific categories, click here.


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OAAA is the trade association for nearly 800 outdoor advertising companies which make up 90 percent of the industry’s revenue. It is dedicated to leading and uniting a responsible outdoor advertising industry that is committed to serving the needs of advertisers, consumers, and communities. Outdoor advertising companies generate $5.9 billion annually in ad revenues and donate space to charitable organizations in excess of $400 million each year.

 

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