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Out of home (OOH) advertising revenue increased 38 percent in the third quarter of 2021 compared to the previous year, accounting for $1.75 billion, based on figures released by the latest Out of Home Advertising Association of America (OAAA) OOH Ad Revenue Report findings. Digital OOH is leading the overall OOH recovery, and the segment jumped 56 percent compared to Q3 2020. Year-to-date, OOH ad revenue totals $5.1 billion which is an increase of 10 percent over 2020.
In the third quarter, all top ten industry product categories increased by double digits, and included Local Services & Amusements, Retail, Media & Advertising, Insurance & Real Estate, Restaurants, Government Politics and Organizations, Financial Services, Public Transportation Hotels and Resorts, Automotive Dealers and Services, and Schools Camps and Seminars.
Reflecting the overall strength of OOH media’s recovery, the largest category, Local Services and Amusements, which represents over 25 percent of total OOH spend, increased by over one-third. Media & Advertising spend increased 85 percent, and the Financial Services category jumped 46 percent.
Ranked in order of OOH spending, the top 10 advertisers in the third quarter were McDonald’s, Geico, Apple, Amazon, American Express, Walt Disney Pictures, Allstate, Dunkin’, Chevron, and Barclays.
Other key findings
MAGNA, a division of IPG, forecasts OOH will be the second fastest growing ad channel in 2021 with a projected annual increase of 16.4 percent.
“OOH has come roaring back after a year full of uncertainty the world over,” said Anna Bager, President and CEO, OAAA. “Our industry is both a marker of public sentiment, and in its own right, a morale lifting vehicle for engaging, inspiring and empowering consumers. These Q3 figures should be welcomed as a sign that we’re back and have an exciting next chapter ahead.”
OAAA issues full industry pro forma revenue estimates that include, but are not limited to, Miller Kaplan and Kantar (which is not adjusted to reflect changes in data sources), and member company affidavits. Revenue estimates include digital and static billboard, street furniture, transit, place-based, and cinema advertising.
About the OAAA
The Out of Home Advertising Association of America (OAAA) is the national trade association for the entire out of home (OOH) advertising industry. OAAA represents more than 800 members, including leading media companies, advertisers, agencies, ad-tech providers, and suppliers which comprise over 90 percent of the industry. OOH media includes billboards, street furniture, transit, place-based media, and digital formats (DOOH) across every sector of the channel. OAAA is the unifying voice for the industry, the authoritative thought leader, and the passionate advocate for advancing OOH advertising in the United States. The legislative unit of OAAA advocates for the responsible growth of OOH with federal, state, and local government. OAAA-member media companies generously donate over $500 million in public service advertising annually. Founded in 1891, OAAA is headquartered in Washington, DC with offices in New York City. For more information, please visit oaaa.org.
