Outdoor Ad Revenue Increases 6.1%
Ads for telecommunications providers lead the way.
Outdoor advertising revenue grew in the third quarter of 2007 with a 6.1% increase over the same period last year, accounting for $1.7 billion in total spending, according to the Outdoor Advertising Association of America (OAAA).
"Despite a slowing US economy, the outdoor industry experienced noteworthy growth in the third quarter of this year," says Stephen Freitas, chief marketing officer for the OAAA. "We are expecting the outdoor industry to have a strong finish to the year."
Outdoor industry revenue was up in six of the top 10 advertising categories for the third quarter of this year. Specifics from the OAAA:
* The Communications Category represented the most significant increase, up 34.9%, primarily due to heightened competition among telecommunications providers and the introduction of several new products.
* The Public Transportation, Hotels, & Resorts category grew 12.6%, driven largely by national hotel brands premiering major outdoor advertising campaigns.
* The Insurance & Real Estate Category posted a 6.1% increase as real-estate professionals continue competing for business.
* The Automotive, Accessories & Equipment Category grew modestly at 1.6%.
* The Miscellaneous Services & Amusements Category grew 1.3% but was the largest overall category accounting for 14.7% of total outdoor industry revenue.