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Outdoor Advertising Shows Growing Strength in First Quarter
Washington, June 4, 2003 – The outdoor media industry experienced modest growth in overall spending in the first quarter of 2003, netting $1.25 billion, a 2.3% increase over the first quarter of 2002. According to the Outdoor Advertising Association of America (OAAA), the industry posted significant gains in the categories of Local Services & Amusements, Financial, and Automotive.
“Relative to the overall ad industry recession, outdoor media continues to show resiliency, particularly on a local level, where the medium is strongly employed,” according to Stephen Freitas, Chief Marketing Officer for the OAAA. Freitas added that reports from OAAA member companies indicate that second quarter sales have shown buoyancy and that early summer spending is brisk.
Outdoor media performance fluctuated across the top ten advertising categories with Local Services & Amusements, the number one spender, remaining strong with 10.1% growth. The biggest gain came in the Automotive category which registered an impressive 58.7% rise compared to the previous year. Financial also posted a large increase, up 19.3%. Insurance & Real Estate (7.4%), Automotive Accessories (6.1%), and Media & Advertising (6.0%) all reported strong gains.
The largest decline continued in the Telecommunications category, which dropped 10.4%. Restaurants, Retail, Public Transportation and Hotels & Resorts were all down approximately 4%.
Please see attached 1st quarter chart.
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Editor’s Note: The OAAA issues full industry revenue estimates that include, but are not limited to, CMR’s data on billboards, member company affidavits and media projections based on a mix of recognized national syndicated data sources.
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