After plummeting 29% in 2020, out-of-home ad spending recovered in 2021 -- climbing 16% to $7.1 billion in 2021, according to estimates released this morning by the Out-of-Home Advertising Association of America (OAAA).
While 2021 still is 17% below the medium's 2019 high of $8.6 billion, the medium appears to be back on track, according to the OAAA's analysis, which also shows the digital out-of-home advertising segment surging 23% over 2020.
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Joe, place based advertising took the major hit from Covid 19 and is still way below its usual ad spend levels. According to the OAAA website, Place based ad dollars for 2021 totalled only $333 million but if you go back to 2019 and 2015 they amounted to $984 million and $879 million, respectively. On the positive side, billboard adbertising---which represents the lion's share of OOH advertising---- actually exceeded its 2019 total by a small margin.