Some sectors of the advertising market are rebounding more quickly than others this year. To date, both TV and radio media companies have announced recovery in their revenues. And the online sector appears to be growing once as well. However, the outlook for the out of home advertising market is mixed. The industry closed out 2009 with a drop to $5.9 billion in spending. The largest sector for the year was billboards with $3.835 billion.
During the first quarter of 2010, the industry recorded $1.3 billion which is a slight drop compared to first quarter activity for 2009. Industry officials believe the outdoor ad market is stabilizing and OAAA President and CEO Nancy Fletcher says “[w]hile other local media options are struggling, advertisers are increasingly turning to outdoor to help them rebuild their businesses.”
About 10 industries typically account for 80% of revenue in this sector. Here’s a list of the top out-of-home marketers for the first part of 2010:
- Miscellaneous services and amusements
- Public transportation, hotels and resorts
OAAA Chief Marketing Officer Stephen Freitas noted that the government and political organization category has seen a spending uptick of 4.4% this year. That figure is likely to rise as competition in local elections begins to pick up for the rest of the year.[Source: Out of Home Advertising Revenue Roughly Flat in Q1. OOAA.org. 19 May 2010. Web. 28 May 2010]