Out-of-home advertising revenues continued to grow in the third quarter of 2011, according to the latest figures from the Outdoor Advertising Association of America. Total revenues increased 4.2% from $1.44 billion in the third quarter of 2010 to $1.5 billion in the third quarter of this year.
In the first nine months of this year, total outdoor ad revenues are up 4.3% to $4.8 billion.
The OAAA attributed this revenue growth to strong spending across a number of categories, including local services, media, schools and restaurants.
Financial advertising spending didn’t grow in the third quarter, but posted big gains in the first half of the year. Outdoor advertising also benefited from the continuing expansion of digital out-of-home platforms and spending, as well as growing adoption of the Traffic Audit Bureau’s new “Eyes On” ratings, which measure the likelihood of drivers or passersby seeing a sign in a particular location.
TAB introduced the new “Eyes On” metric in 2009 after a multiyear effort supported by major outdoor advertising companies, advertising agencies and their clients. This marks the seventh consecutive quarter of revenue growth for the out-of-home medium, which has enjoyed stronger revenue growth than most other media following the economic downturn.
After ad spending declines in 2008-2009, the OOH industry saw ad spending turn positive again in the second quarter of 2010. Most recently, outdoor revenues grew 4.2% to $1.37 billion in the first quarter of 2011, and 4.5% to just over $1.9 billion in the second quarter, according to the OAAA.