Out of home advertising industry revenue jumped 3.6 percent in the second quarter of 2010 when compared with the same period in 2009, accounting for $1.88 billion, according to figures released by the Outdoor Advertising Association of America (OAAA). The increase is the industry’s largest year-over-year gain since 2008.
“We’ve been seeing signs the industry was beginning to recover for some time,” said OAAA President and CEO Nancy Fletcher. “These results show advertisers are reentering the marketplace and they’re seeking effective, cost efficient media, specifically, out of home.”
Revenue was particularly strong in June, when the industry saw a rise of 7.1 percent over the previous year.
“June was a great month for the industry,” said Fletcher. “We hope it’s a sign of things to come.”
Industry experts attribute the rise to increased investment in measurement and new technologies, in addition to a generally improving ad economy.
“The outdoor advertising industry has not been standing still or going into the bunker during the down period,” said Stephen Freitas, OAAA’s chief marketing officer. “Out of home companies invested in infrastructure and their medium and what you are seeing now are the dividends from that investment.”
OAAA issues full industry revenue estimates that include, but are not limited to, Miller Kaplan and Kantar Media data on out of home, member company affidavits, and media projections based on a mix of recognized nationally syndicated data sources. Revenue estimates include billboard, street furniture, transit, alternative, and cinema advertising spending.
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