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FOR IMMEDIATE RELEASE
Out of Home Yearend Revenue Anticipated at More than 8.0 % Matching Projections for 2007
Washington, D.C. - Total revenue for the out of home
industry jumped 13.1% in October 2006 compared to the same period last year
and the industry grew 9.1% year to date through the end of October, announced
the Outdoor Advertising Association of America. The out of home industry is
expected to end the year with total revenue up between 8% and 9%, second only
to the overall growth in Internet advertising, as brand marketers invest more
money in outdoor at the expense of other conventional media.
Contributing to this growth was the accelerated rollout of digital billboards with
hundreds of roadside LED units placed across the country. According to Stephen
Freitas, OAAA’s CMO, “Revenue from the digital segment rose sharply as in
many instances, returns produced from a single location jumped several fold.”
Amid predictions of U.S. growth in ad spending next year of 2 to 5% over 2006,
the out of home industry is projecting growth of 8% in 2007. Analysts are
forecasting that television, radio and newspapers will experience slow growth
and ongoing audience declines next year, while the out of home industry
anticipates it will continue to benefit from the fragmentation of other ad media.
“Digital video recorders, mobile devices, satellite radio and various online media
have had a favorable impact on outdoor advertising as brands recognize the
guaranteed audience for outdoor messages,” commented Stephen Freitas,
OAAA’s Chief Marketing Officer.
The revenue figures are collected and reported in aggregate each month by
certified public accountants Miller, Kaplan, Arase & Co., LLP. Miller Kaplan
provides monthly revenue estimates for more than 2000 radio stations in 160
markets, in addition to the out of home industry.
The OAAA is the largest trade association representing the out of home
advertising industry. It is dedicated to leading and uniting a responsible out of
home advertising industry that is committed to serving the needs of consumers,
advertisers and the public. The nearly 1,000 OAAA member companies generate
more than $6.3 billion annually in ad revenues, representing more than 90% of
industry income, and donate space to charitable organizations in excess of $400
million each year.
The OAAA issues full industry revenue estimates that include, but are not limited
to, Miller Kaplan, CMR’s data, member company affidavits, and media
projections based on a mix of recognized nationally syndicated data sources.
OAAA (Outdoor Advertising Assoc. of America)
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