Detailed OOH Performance Now Available in the 2023 Facts & Figures Report
OOH ad spend grew to a record $8.73 billion producing a 2.1% increase over 2022 and setting a second consecutive record total. As one of the year’s fastest growing ad channels, OOH outperformed digital display, magazine, newspaper, radio, and TV, according to MAGNA.
Once again, the biggest growth driver was digital out of home, which increased 9.8%. OOH also produced growth across the Transit (+7%), Billboards (+2%), and Place-Based (+2%) categories.
OAAA members can analyze OOH’s annual performance in our 2023 OOH Facts & Figures report. It provides valuable insights on OOH opportunities and prospecting strategies:
- Understanding key ad time periods and trends for all product categories.
- Identifying competing media channels with greater share than OOH in local markets,
CLICK HERE TO ACCESS THE 2023 REPORT
CLICK HERE TO ACCESS THE INFOGRAPHIC
The report examines:
- OOH performance by category format
- Annual OOH ad spend 2009 – 2023
- Top ten product industries for OOH spend
- Top 25 product categories for OOH spend
- Top OOH advertisers and parent companies, including the MegaBrands report
- Top OOH advertisers by dollar and percentage increase over 2022
- Top markets by OOH ad spend rank
- Top markets by OOH ad spend share of local ad spend
- Rank order of markets by total local media spend and spend by ad channel
- OOH spend rank order of all markets by spend and share of local media
- Industry product category total media spend by medium and by month
- OOH share of total core media
The top three markets generating the most OOH ad spend were New York ($842 billion), Los Angeles ($602 billion), and Chicago ($236 billion), while the top three markets producing the highest OOH share of total local ad spend were Rapid City, SD (68.5%), Victoria, TX (61%), and Casper, WY (57.1%), according to Vivvix.
For 2024, MAGNA projects a 5.2% growth rate for OOH, and a total media growth rate of 6.7%.
Source: MAGNA, OAAA, Vivvix (a MediaRadar company)
Published: April 18, 2024