Sunday, September 25, 2022

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    Signs, signs, everywhere signs: outdoor ad revenue soared 29% in Q2

    OOH ad revenues in the second quarter of 2022 have nearly reached 2019 levels, signaling a continuing recovery from the darkest days of the pandemic. 

    Out-of-home (OOH) advertising revenue in the US continues to climb as the country moves farther away from the days of lockdown and social distancing. OOH ad revenue increased by 28.9% in the second quarter, equalling approximately $2.62bn, compared to the same time period last year. This is according to a new report from the Outdoor Advertising Association of America (OAAA).

    Those figures are nearly equivalent to those that were seen in the second quarter of 2019, when OOH ad revenue totaled a record high of $2.69bn, per the OAAA. Total OOH ad revenue in 2022 through the month of June was tallied at $4.43bn, just shy of the first six months of 2019, which reached $4.47bn. 

    “This is a watershed moment – with OOH revenues nearly matching historic, pre-pandemic highs, I am confident that these gains will continue,” said Anna Bager, president and chief executive of the OAAA. “Recent Comscore research found that OOH delivers tremendous value in comparison to other channels, so we are in a good position to continue this momentum, despite any economic headwinds.”

    Total OOH ad revenue growth was led by the digital OOH advertising category, which saw a 37% increase in Q2. The billboard and street furniture categories increased by double digits, while the transit and place-based categories rose by triple digits. 

    The three top-performing product industry segments in terms of OOH ad revenue for the second quarter of 2022 were: 

    1. Computer software, not including games and education (321%)

    2. Real estate agents, agencies and brokers (39%)

    3. Consumer banking (36%)

    The top 10 OOH advertisers in Q2 were:

    1. McDonald’s

    2. Apple

    3. Geico

    4. Universal Pictures

    5. Anheuser-Busch

    6. American Express

    7. Amazon

    8. HBO

    9. Dunkin’

    10. T-Mobile

    Roughly 78% of last quarter’s top OOH advertisers increased their investment in OOH compared to the same quarter last year, and around 27% more than doubled their spending.

    The OAAA’s figures for OOH ad revenue in the second quarter of 2022 follow a more pronounced spike of 40.5% in the first quarter of the year, compared to the same time period in 2021. 

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