The Outdoor Advertising Association of America (OAAA) says advertising revenue rose two percent in Q1 2018 compared to the previous year, accounting for $1.68 billion in ad spend.
Four of the top 10 product categories posted increases more than three times higher than total OOH growth, including:
- Government, Politics and Organizations +9.9 percent;
- Miscellaneous Local Services & Amusements +8.8 percent;
- Insurance & Real Estate +8.4 percent;
- and Financial +8.3 percent.
Ranked in order of OOH spending, the top 10 advertisers in Q1 were McDonald’s, Apple, Metro PCS, Netflix, Geico, US Army National Guard, American Express, M&Ms, Chevrolet, and Universal Pictures.
Over one-quarter of the top 100 OOH advertisers more than doubled their OOH spend from Q1 2017, including: Adyen, Carvana, CVS, DirecTV, Entercom, Ford, HCA Hospital Corp Of America, Hilton Hotels/Resorts, Honda, Hyundai Dealer Assn, Itcanwait.com, Jimmy Johns Gourmet Sandwich Shop, LinkedIn, LogMeIn, M&Ms, Netflix, NYC Department of Health & Hygiene, T-Mobile, TNT, Turkish Airlines, US Army, US Army National Guard, Warner Bros, YouTube, Zelle and Zoom Video Communications.
“An important part of OOH’s growth has been advertisers in the tech and digital sectors because of its ability to efficiently reach massive audiences,” says OAAA President & CEO Nancy Fletcher. “Our resonance with this sector is only expanding. In the first quarter alone, Adyen, Carvana, LinkedIn, LogMeIn, and Zelle all invested more in OOH than they had in any of the previous five years.”
“More brands are realizing the power of OOH to increase the effectiveness of other media investments,” adds Stephen Freitas, OAAA chief marketing officer. “According to a new study about media mix optimization, advertisers should consider doubling and tripling current levels of OOH to maximize ad spend across any category.”
OAAA’s numbers are estimates that include data from Miller Kaplan and Kantar Media. Revenue estimates include digital and static billboard, street furniture, transit, alternative, and cinema advertising.