Out-of-Home Ad Market Reaches New High
The Out of Home Advertising Association of America (OAAA) reports that Q3 advertising increased by 7.3% over the same period last year. So far, OOH advertising is outpacing last year’s activity by 7%. In total, spending from January 1 through the end of September amounted to $6.44 billion.
Top Revenue Categories
Local markets may experience some variations when it comes to verticals with the most activity in OOH advertising. OAAA executives say that five specific verticals were particularly strong in Q3 this year:
- Miscellaneous Local Services and Amusement
- Media and Advertising
- Insurance and Real Estate
Hot Verticals for 2020
In a blog post, Steve Nicklin, vice president of marketing at OAAA, explained some of the local market variations. States that have voted to make the sale and consumption of cannabis legal have seen “rocket-like” growth in demand for OOH advertising. Retailers are vying for market share and they are advertising their presence to consumers through billboard, transit and street furniture promotions.
Going forward, political campaigning and promotions will increase through Q3 of 2020. As we move from the primaries to the main elections next year, candidates will spend heavily. And groups with a vested interest in the outcome of referendums on local issues will also buy advertising.
Top 100 Advertisers
Large advertisers account for significant spending in the OOH market. Tech-related companies consistently drive large ad buys. These companies like the flexibility of digital OOH advertising that now accounts for about 30% of total industry spending.
Ranked in order of OOH spending, the top 10 advertisers in the second quarter were: State Farm, Geico, McDonald’s Apple, Amazon, AT&T, Anheuser-Busch, Coca-Cola, CBS and Comcast.
If your clients are curious about OOH advertising, you can show them which audiences pay attention to these messages. Check out the AudiencesSCAN profiles available on AdMall from SalesFuel.