I don’t know about you, but I like good news. While I might not be a rose-colored glasses optimist, I try to see the good in every situation—although my inner pessimist continues to point out the not-so-good stuff.
But when I saw the latest report from the Outdoor Advertising Association of America (OAAA) I was very encouraged to see the spark of something positive for the industry. So, just in case you didn’t get the chance to see it amid all the craziness that happens at the end of the year, I wanted to be sure to share it with you. Good news is always a good way to start the new year, don’t you think?
According to the report, out of home advertising revenue rose 4.2 percent in the third quarter of 2011 compared to the same period last year, accounting for $1.5 billion. The steady increase in revenue has been consistent throughout the first nine months of this year with total growth up 4.3 percent. During the first three quarters, industry revenue was $4.8 billion.
“Out of home continues to perform better than most other media segments this year,” said Nancy Fletcher, president & CEO, OAAA. “Brands realize the value of the out of home medium and its ability to reach busy consumers outside the home and on the path to purchase.”
“Out of home advertising has been growing at a sustained pace all year,” said Stephen Freitas, chief marketing officer, OAAA. “The growth has been constant, in large part due to innovation that includes continued integration of digital technology and the further rollout of TAB’s EYES ON ratings.”
A few more detailed highlights from the report show growth in eight of the top 10 sectors. According to the report prepared by the OAAA by Kantar Media (November 2011), the industry segment of Schools, Camps, Seminars saw the biggest increase year over year at 21.6 percent. Misc Services & Amusements saw 11.1 percent change compared to the same time last year. Restaurants were next in line with 8.2 percent growth. Media & Advertising saw 5.2 percent growth over 2010 numbers. Retail boasted a 2.9 percent increase, while Insurance and Real Estate saw a 2.4 percent increase. The Communications segment only saw a 1.4 increase in 2011 over the same time in 2010, and the Financial segment eked out a .1 percent increase. Public Trans., Hotels & Resorts and Government, Politics & Orgs were the only two segments showing a decline in 2011 over 2010, with -1.4 and -2.7 percent respectively.
I know I’m very curious to see how the end of 2011 shakes out, but I’ll have to wait a little while before we get that report. I’ll be sure to share it with you as soon as I get my hands on it.