Out-of-home advertising spend is almost back to pre-pandemic levels, according to the Out of Home Advertising Association of America.
Out-of-home ad spend in the second quarter hit $2.62 billion, up 28.9% from the same period in 2021, and investment so far this year, up to June, rose 33.4% to reach $4.43 billion, nearly matching the $4.47 billion spent in the first six months of 2019.
This follows quarter one’s 40.5% rise in out-of-home ad spend as brands started reinvesting in the medium following the end of lockdowns.
“This is a watershed moment – with OOH revenues nearly matching historic, pre-pandemic highs,” said Anna Bager, president and CEO of OAAA, in a press release. “I am confident that these gains will continue. Recent Comscore research found that OOH delivers tremendous value in comparison to other channels, so we are in a good position to continue this momentum, despite any economic headwinds.”
Digital OHH sees quarterly rise
Digital out-of-home advertising led quarter two growth with a rise of 37% from the same period in 2021 and now comprises 28% of total out-of-home ad spend.
Billboards accounted for 73.5% of second quarter spend, followed by transit at 14.6%, place-based ads at 6.4% and street furniture at 5.4%.
The 10 brands investing the most in out-of-home advertising in the second quarter were, in order, McDonald’s, Apple, Geico, Universal Pictures, Anheuser-Busch, American Express, Amazon, HBO, Dunkin, and T-Mobile.
Public transportation, hotels and resorts was the highest industry category spender with a 56.5% increase in out-of-home ad investment, while four other categories all increased their spend by more than 30%, including financial, media & advertising.
Out-of-home spending by computer software brands increased a whopping 321%, while the real estate industry upped spending by 39% and consumer banks increased investment by 36%.
Some 78% of the biggest 100 out-of-home advertisers upped their investment in the second quarter from the previous one, and 27% doubled it.
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