Bureau, New Delhi
Out-of-home advertising revenue rose 3.3 percent in the first quarter of 2016 compared to the previous year, accounting for $1.64 billion, based on figures released by the Outdoor Advertising Association of America in a press release.
The revenue increase marks the industry's 24th consecutive quarter of growth, in contrast to the combination of all other local media, which was down for the quarter, according to an OAAA analysis of Kantar Media data.
"The first few months of the year reflected strong growth across the entire OOH spectrum including both digital and printed formats," said OAAA President and CEO Nancy Fletcher. "OOH also significantly outperformed GDP, beating it by almost three percentage points."
The five revenue growth categories outperforming GDP were Miscellaneous Local Services and Amusements; Restaurants; Automotive Dealers and Services; Media & Advertising; and Retail.
Ranked in order of OOH spending, the top 10 advertisers in the first quarter were McDonald's, Apple, HBO, Verizon, Chevrolet, Metro PCS, Chase, Citi, Anheuser-Busch, and Warner Bros. Pictures.
Among the top 100 OOH advertisers that more than doubled their OOH spend from Q1 2015 were, in order of growth: Chevrolet, Ford, Squarespace, Budweiser, Chipotle, Busch, Lyft, Delivery.com, Chevrolet Dealers Association, Showtime, Amazon, Marriott, Barracuda, HBO, and Walt Disney Pictures.
"The industry displayed strength across all formats, reinforcing OOH's ability to connect with consumers through multiple touch points, because OOH's reach, interactive capabilities, and captivating messages move consumers to reach for their mobile devices to learn more about brands," said Stephen Freitas, OAAA chief marketing officer.
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 digital and static billboard, street furniture, transit, alternative, and cinema advertising.