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FOR IMMEDIATE RELEASE
Outdoor Ad Revenue Increases 6.1%
Washington, D.C. Outdoor advertising revenue grew in the third quarter of 2007 with a 6.1% increase over the same period last year, accounting for $1.7 billion in total spending.
“Despite a slowing US economy, the outdoor industry experienced noteworthy growth in the third quarter of this year,” said Stephen Freitas, chief marketing officer for the Outdoor Advertising Association of America. “We are expecting the outdoor industry to have a strong finish to the year.”
Outdoor industry revenue was up in six of the top ten advertising categories for the third quarter of this year. The Communications Category represented the most significant increase, up 34.9% due to heightened competition among telecommunications providers and the introduction of several new products. The Public Transportation, Hotels, & Resorts category grew 12.6% driven largely by national hotel brands premiering major outdoor advertising campaigns. The Insurance & Real Estate Category posted a 6.1% increase as real estate professionals continue competing for business.
The Automotive, Accessories & Equipment Category grew modestly at 1.6%. The Miscellaneous Services & Amusements Category grew 1.3% but was the largest overall category accounting for 14.7% of total outdoor industry revenue.
The OAAA is the 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. The nearly 1,000 OAAA member companies generate more than $6.8 billion annually in ad revenues, represent more than 90% of industry income, and donate space to charitable organizations in excess of $390 million each year.
Click here for expenditures by industry category.
OAAA issues full industry revenue estimates that include, but are not limited to, Miller Kaplan, TNS data on outdoor, member company affidavits, and media statistics based on a mix of recognized nationally syndicated data sources.
Outdoor Advertising Association of America (OAAA)
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