Outdoor advertising industry revenue sustained last year’s strong growth trend, accounting for $1.6 billion in the first three months of 2007 – an increase of 8% compared with the year-earlier period, according to the Outdoor Advertising Association of America.
“The industry’s growth has remained consistent and is significantly better than the total ad industry, which decreased 0.3% in the first quarter of this year,” said OAAA CMO Stephen Freitas.
Other Q1 data reported by OAAA:
- Outdoor media performance was up in nine of the Top 10 advertising categories for the first quarter of this year.
- The Communications category posted the largest gain in ad spending, with 20.0%.
- The greatest spending was in the Local Services and Amusements category, which grew 11.5%.
- The Insurance and Real Estate category remained strong with a 14.7% increase over the first quarter of 2006, stimulated by agents eager to compete in a cooling housing market.
- The Automotive Accessories & Equipment category surged by posting strong gains of 13.1% after several quarters of decreased spending.
- The Automotive Dealers & Services Category was up 6.1% for the quarter.
- The Restaurants (9.7%), Public Transportation, Hotels & Resorts (3.4%), Retail (0.6%), and Financial (0.1%) categories also experienced increases.
