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FOR IMMEDIATE RELEASE
Outdoor Ad Revenue Continues Double Digit Growth
Washington, D.C., December 6, 2005 – Outdoor advertising industry revenue rose higher than originally predicted year-to-date, with a 7.9% ($4.7 billion) increase in the first nine months and a 10% ($1.5 billion) increase in the third.
“The industry’s growth has continued to accelerate all year and we are seeing strong revenue gains in all segments within the outdoor business,” said Stephen Freitas, chief marketing officer for the Outdoor Advertising Association of America. “Indications are that the growth will continue into next year, with many outdoor operators already reporting robust activity in the first quarter of next year.”
Outdoor media performance was up in seven of the top 10 advertising categories for the third quarter of the year. There was considerable growth in the Media & Advertising category, which rose an impressive 64.5% due mostly to heavy fall film promotions among the major movie studios. There was also substantial growth in the Communications category, which increased 38.0% as leading telecommunications companies continued to advertise heavily.
There was moderate growth in the Financial category which grew 7.1 %, the Restaurant category which rose 6.5%, and the Automotive Accessories & Equipment category which increased 6.3% in the third quarter. The Insurance & Real Estate category was up 5.0% and the Local Services & Amusement category increased slightly by 0.9%.
OAAA is the largest trade association representing the outdoor advertising industry. It is dedicated to leading and uniting a responsible outdoor advertising industry that is committed to serving the needs of consumers, advertisers and the public. OAAA’s nearly 1,000 member companies generate more than $5.5 billion annually in ad revenues, representing more than 90% of industry income, and donate space to charitable organizations in excess of $350 million each year.
Click here to see the Revenue Charts
The OAAA issues full industry revenue estimates that include, but are not limited to, CMR’s data on billboards, member company affidavits, and media projections based on a mix of recognized national syndicated data sources.
Outdoor Advertising Association of America
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