Out of Home Advertising Continues Momentum with Record-Breaking Quarter and First Half Growth

quotOut of homeamp8217s record ad spend generation is a testimony to its effectiveness Our position as a highly relevant consumer medium is reflected across the board but particularly in the political arenaquot said Anna Bager President and CEO OAAA quotPolitical ad spend in OOH is at the highest levels ever because of our ability to deliver locationbased targeting and OOHamp8217s resonance with younger and multicultural audiences US House and Senate OOH campaign spending in the first half of 2024 has quadrupled from 2020 and is up 70 from 2022quotThe report offers a deep dive into trends and growth areas for the channel including the below findingsDigital OOH Key Growth DriverDigital OOH which accounted for 34 of quarterly sales increased 75 from a year agoOOH Growth Across Industries Positive Economic IndicatorThe Transit category generated the greatest growth against the second quarter of 2023 increasing by 137Seven of the top 10 product industries increased in quarterly volume led by Automotive Dealers and Services 178 Retail 148 Local Services ampamp Amusements 101 Insurance and Real Estate 81 Public Transportation Hotels ampamp Resorts 44 Schools Camps ampamp Seminars 21 and Restaurants 13 reflecting the overall broad strength of the economyThe top 10 OOH product categories in volume for the second quarter wereLegal ServicesHospitals Clinics ampamp Medical CentersDomestic Hotels ampamp ResortsQuick Serve RestaurantsColleges ampamp UniversitiesConsumer BankingLocal GovernmentOnline ampamp Mobile Travel ServicesChain Food Stores ampamp SupermarketsTelevision ampamp Cable TV ProgrammingOnline and Mobile Travel Services spending increased by 78 while spending in the Computer Software category which placed twelfth in OOH volume jumped 46Top Brands Increasing SpendRanked in order of OOH spending the top 10 advertisers in the first quarter were Hotelscom Apple McDonaldamp8217s Verizon CocaCola Morgan ampamp Morgan Attorneys Amazon Disney Expedia and Universal PicturesAmong the top 100 OOH advertisers twothirds increased their OOH spend from Q2 2023 and 14 more than doubled their spend including listed by spend increase Ramp Molson Coors Ford QuikTrip Honda StackAdapt FanDuel Sixt Rent the Car Skechers 7Eleven Hotelscom Pepsi Progressive Total Wine ampamp MoreTechnology and DTC Brand AdoptionOnequarter of the top 100 OOH spenders were technology or directtoconsumer brands including these twelve brands which finished among the top 25 according to spend Hotelscom Apple Verizon Amazon Expedia Google VRBO TMobile Netflix Uber Samsung and StackAdaptOAAA issues full industry pro forma revenue estimates that include but are not limited to Miller Kaplan and MediaRadarVivvix which is not adjusted to reflect changes in data sources and member company affidavits Revenue estimates include digital and static billboard street furniture transit placebased and cinema advertisingFor more information about specific category spend please contact Steve Nicklin at snicklinoaaaorgPosted at MediaVillage through the Thought Leadership selfpublishing platformClick the social buttons to share this story with colleagues and friendsThe opinions expressed here are the author39s views and do not necessarily represent the views of MediaVillageorgMyersBizNet

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Out of Home Advertising Continues Momentum with Record-Breaking Quarter and First Half Growth

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Anna Bager

We Are the Outliers - By Jack Myers

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Out of Home Advertising Continues Momentum with Record-Breaking Quarter and First Half Growth

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