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Outdoor Ad Revenue Up for 2003
Outdoor Ad Revenue Up in 2003
Washington, D.C., March 3, 2004 – The outdoor industry revenue rallied to post strong growth in the fourth quarter of 2003 with a 5.7% increase over the same period last year and an overall increase of 5.2% in 2003 compared to 2002.
“This is the first year of growth after two flat years, out-pacing overall ad industry earnings of 5.1%,” said Stephen Freitas, chief marketing officer for the Outdoor Advertising Association of America. According to industry reports, outdoor’s performance surpassed broadcast TV (0.5%), radio (1.0%), and newspapers (1.9%).
Outdoor media performance was robust across most of the top 10 advertising categories for the year with Local Services & Amusements, the largest spending category, remaining solid with 11.8% growth. The biggest gains came in the Automotive category, which posted a 34.3% increase for the year. Other sizable gains were in the Financial (23.8%) and Insurance & Real Estate (20.2%) categories, reflecting the continued resurgence of the U.S. economy, driven largely by lower mortgage rates and new homes. Automotive Dealers (7.3%), Restaurants (4.0%), Retail (2.4%), and Media & Advertising (2.0%) all reported gains. (Please see attached charts.)
Outdoor is expected to grow 2% over the GDP during the next 12 months. Early indications from OAAA member companies are that outdoor revenue has maintained a steady rise in 2004.
OAAA is the largest trade association representing the outdoor advertising industry. It is dedicated to leading and uniting a responsible outdoor advertising industry that is committed to serving the needs of consumers, advertisers and the public. The OAAA’s nearly 1,100 member companies generate more than $5 billion annually in ad revenues, representing more than 90% of industry income, and donate space to charitable organizations in excess of $300 million each year.
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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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