Ad spending in out-of-home advertising during the fourth quarter plummeted 15%--sending total OOH revenue down 4% for the year to $7 billion, per the Outdoor Advertising Association of America.
Fourth-quarter revenue accounted for $1.5 billion in total ad expenditures.
The last time the outdoor business posted negative growth was in 2001, when revenue was down 1%. For the year,
spending in insurance and real estate dropped 22.4%, while communications spending dropped 15.4%. First-quarter 2009 looks equally as grim as fourth-quarter 2008, say industry executives.
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