Russ Curry, Ministry of New Media
Out of home advertising revenue increased 38 percent in the third quarter of 2021 compared to the previous year, accounting for USD 1.75 billion, based on figures released by the latest Out of Home Advertising Association of America (OAAA) OOH Ad Revenue Report findings.
Digital OOH is leading the overall OOH recovery, and the segment jumped 56 percent compared to Q3 2020. Year-to-date, OOH ad revenue totals USD 5.1 billion which is an increase of 10 percent over 2020.
In the third quarter, all top ten industry product categories increased by double digits, and included Local Services & Amusements, Retail, Media & Advertising, Insurance & Real Estate, Restaurants, Government Politics and Organizations, Financial Services, Public Transportation Hotels and Resorts, Automotive Dealers and Services, and Schools Camps and Seminars.
Reflecting the overall strength of OOH media’s recovery, the largest category, Local Services and Amusements, which represents over 25 percent of total OOH spend, increased by over one-third. Media & Advertising spend increased 85 percent, and the Financial Services category jumped 46 percent.
Ranked in order of OOH spending, the top 10 advertisers in the third quarter were McDonald’s, Geico, Apple, Amazon, American Express, Walt Disney Pictures, Allstate, Dunkin’, Chevron, and Barclays.
Other key findings
- 88% of the top 100 OOH advertisers increased their OOH spend from Q3 2020
- 51% of the top 100 OOH advertisers more than doubled their spend
- 36% of the top 100 increased their spend ten-fold or more including (ranked in order of percentage increase): Credit Karma, Webull, DuckDuckGo, ADT, Discovery, Brex, California Department of Social Services, Grayscale, Christian Dior, Snapchat, United Artists Pictures, Expensify, Molson, Heineken, Marriott, William Hill, Adidas, and Chrysler
- 28% of the top 100 OOH spenders were technology or direct-to-consumer brands including: Amazon, Apple, AT&T, BetMGM, Brex, ClickUp, Comcast, Credit Karma, DoorDash, DraftKings, DuckDuckGo, Expensify, Facebook, FanDuel, Google, GoPuff, Grayscale, GrubHub, HBO, Hulu, Netflix, Samsung, Snapchat, T-Mobile, Uber, Verizon, Webull, and William Hill
MAGNA, a division of IPG, forecasts OOH will be the second fastest growing ad channel in 2021 with a projected annual increase of 16.4 percent.
Anna Bager, President and CEO, OAAA told us “OOH has come roaring back after a year full of uncertainty the world over. Our industry is both a marker of public sentiment, and in its own right, a morale lifting vehicle for engaging, inspiring and empowering consumers. These Q3 figures should be welcomed as a sign that we’re back and have an exciting next chapter ahead.”
OAAA issues full industry pro forma revenue estimates that include, but are not limited to, Miller Kaplan and Kantar (which is not adjusted to reflect changes in data sources), and member company affidavits. Revenue estimates include digital and static billboard, street furniture, transit, place-based, and cinema advertising.
To view the key charts from the OAAA OOH Ad Revenue Report for Q3 2021 click here.
Follow DailyDOOH