Out of home advertising revenue rose four percent in 2011 compared to the previous year, accounting for $6.4 billion, based on figures released by the Outdoor Advertising Association of America (OAAA).
The increase in revenue was consistent for each quarter of the year with total growth up 3.0 percent in the fourth quarter.
"Out of home performed well last year," said OAAA President & CEO Nancy Fletcher. "More brands are recognizing the value out of home advertising can add to a strategic media plan."
Several industry categories performed well all year, most notably the Schools, Camps & Seminars sector, which was up 22.4 percent for the year. Other notable growth categories were Media & Advertising; Financial; and Miscellaneous Services & Amusements, which is comprised mainly of local brands. The Communications category flattened in 2011 after a decrease in the fourth quarter.
Four of the top five advertisers increasing out of home media spend last year were financial brands, namely Chase, Prudential, JP Morgan, and Citi. Five of the top 20 advertisers increasing out of home spend were in the media & advertising category.
"Out of home advertising outpaced the overall ad business and other local media last year," said Stephen Freitas, OAAA chief marketing officer. "The industry has grown steadily for the past seven quarters, and that growth trend is expected to remain strong."
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, and alternative media, as well as digital platforms for advertising spend.