Out of Home Advertising up 11% In Q3 2022, According to Oaaa Ooh Revenue Report

Outdoor advertising (OOH) revenue grew 11% in the third quarter of 2022 from a year earlier to $1.94 billion, based on figures released by the Outdoor Advertising Association of America (OAAA). Digital OOH continues to drive overall OOH growth, with the segment up 14% compared to Q3 2021. Year-to-date, OOH is up 25.7% and equates to an all-time high. year-to-date is set in 2019 at $6.4 billion.

“This strong growth is a direct reflection of the value marketers place on the medium and its benefits,”

“Key sectors are increasingly investing more dollars – in particular, political spending in out of home hit record highs. It confirms OOH’s ability to effectively reach audiences at national and local levels and is surely a harbinger of more momentum to come.”

Anna Bager, President and CEO, OAAA.

In the third quarter, nine of the industry’s top ten product categories grew, including (in order of growth): advertising in the media; Public transport Hotels and resorts; schools, camps and seminaries; Government, Politics and Organization; Automotive dealerships and services; local services and entertainment; restaurants; Financial services; and Retail.

The four top growth industry categories showcase current socioeconomic trends:

1. Media & Advertising grew 32 percent, driven by streaming and internet services.
2. Public Transportation, Hotels and Resorts growth of 26 percent reflected consumers’ pent-up desire for real-life experiences.
3. Schools, Camps and Seminars jumped 17.3 percent driven by online learning and vocational/trade schools.
4. The government, Politics and Organizations category achieved a quarterly record high of $134 million, fueled by a Q3 high of $7.5 million in political spending, mostly for US Senate and House, state, and local government races, plus ballot issues. The category also saw significant increases in federal, state, and local government spending for economic, environmental, health, safety, and social issues.

Ranked in order of OOH spending, the top 10 advertisers in the third quarter were Apple, McDonald’s, Samsung, Amazon, Google, Paramount+, American Express, T-Mobile, Panera, and Dunkin.

• 79% of the top 100 OOH advertisers increased their, OOH spending from Q3 2021
• Nearly one-third (32%) of the top 100 OOH advertisers more than doubled their spend
• The top 10 advertisers with the greatest dollar spend increase, listed in rank order, were: Paramount+, Apple, Google and T-Mobile. Samsung, Panera, Stellantis, IHG, Uber, and American Express. Their spending increases ranged from +2538% to +57%.
• Over one-quarter (27%) of the top 100 OOH spenders are technology or direct-to-consumer brands including Airtable, Altice, Amazon, Apple, AT&T, BetMGM, ClickUp, Comcast, Disney, DoorDash, DraftKings, DuckDuckGo.com, Expedia, Expensify, FanDuel, Google, Hotels.com, Hulu, Indeed, Intel, Live Nation, Netflix, Paramount+, Samsung, T-Mobile, Uber, and Verizon

MAGNA, a division of IPG, predicts that OOH will be the fastest growing advertising channel by 2022 with an expected year-on-year growth of 21.8%.

OAAA publishes comprehensive estimates of industry pro forma earnings including but not limited to Miller Kaplan and Kantar (not adjusted to reflect changes in data sources) and sworn members of the company. Revenue estimates include digital and static billboards, street furniture, transit, localized ads, and cinema ads.