Out of home advertising revenue rose 4.2 percent in the first quarter of 2011 compared to the same period in 2010, accounting for nearly $1.4 billion, according to the Outdoor Advertising Association of America (OAAA). The increase in revenue signals steady positive year over year revenue growth since the second quarter of 2010.
“The out of home industry saw positive growth in 2010 and steady increases continue this year,” said OAAA President & CEO Nancy Fletcher. “Optimism remains high throughout all sectors of the industry as business strengthens.”
The financial and media & advertising sectors recorded the most growth in outdoor advertising spending in the quarter. Schools and camps entered the list of top 10 industry categories for the first time with a 21 percent increase in outdoor revenue.
“Colleges and universities have ramped up out of home spending as the economy continues to recover,” said OAAA Chief Marketing Officer Stephen Freitas. “It is vital for institutions of higher learning to increase support and interest in this new economic environment, and outdoor advertising is proving to be an effective way to garner positive attention.”
OAAA issues full industry pro forma revenue estimates that include, but are not limited to, Miller Kaplan and Kantar Media (which is not adjusted to reflect changes in data sources), and member company affidavits. Revenue estimates include billboard, street furniture, transit, alternative, and cinema advertising, as well as digital platforms for advertising spending.