Out of home (OOH) advertising industry revenue rose 7% in Q3 2010 when compared with the same period in 2009, accounting for $1.44 billion, according to figures released by the Outdoor Advertising Association of America (OAAA).
Media, Finance Drive Quarterly Increase
The media and financial segments helped drive the increase. The financial category spending on OOH grew by a third compared to the same period a year ago, from $81.9 million to $109.2 million. The category also grew from eighth place to fifth place in terms of total quarterly revenue.
Meanwhile, the media/advertising segment grew 11.3%, from about $133 million to about $148 million, retaining its second place position. Miscellaneous amusements and services retained the top revenue spot with $238.6 million, up 7.6% from $221.6 million.
Three categories in the top 10 declined in year-over-year quarterly revenue: Communications (-11%, from 119.6 million to $106.4 million), insurance and real estate (-8.7%, from $91.3 million to $83.4 million), and public transportation, hotels and resorts (-6.8%, from $114.2 million to $106.4 million).
In terms of total quarterly revenue, communications fell from third to seventh place, insurance/real estate fell from seventh to eighth place, and public transportation/hotels/resorts fell from fourth to sixth place.
Results for First Three Quarters Similar
Combined results for the first three quarters of 2010 (January-September) compared with the same time period in 2009 are generally similar to Q3 results. Miscellaneous amusements and services retained the top revenue spot with $779.1 million, up 4.6% from $774.9 million.
Media and advertising jumped from sixth to second place with $422 million, up a leading 20.6% from $350 million. Financial climbed from eighth to seventh place with $320 million, up 18.8% from $269.2 million.
Four categories experienced a year-over-year revenue decline. Public transportation/hotels/resorts fell from second to third place with $394.2 million, down 4.5% from $412.8 million. Communications fell from third to sixth place with $333.9 million, down 10.4% from $372.4 million. Insurance and real estate fell from seventh to eighth place with $264.3 million, down 12.1% from $300.6 million. And automotive dealers and services fell from ninth to 10th place with $194.8 million, down 5.6% from $206.4 million.
In total, OOH advertising revenues totaled about $4.6 billion from Q1-3 2010, up 3.3% year-over-year.
June Performance Boosts Q2 OOH Ad Performance
Q2 2010 OOH ad revenues in the US totaled $1.88 billion, according to earlier OAAA data. Particularly strong June 2010 performance (up 7.1% from June 2009) helped drive the increase for the entire quarter and served as a positive sign for Q3 2010 results.