OOH ad spend grew to a record $8.6 billion producing a 20.7 percent increase over 2021, and breaking the previous record set in 2019. On top of the historic high, OOH was also the fastest growing ad channel of the year.
A key driver for the year was digital out of home at +24.2 percent, which was the second consecutive year DOOH grew by over 20 percent. Additionally, OOH overall experienced double-digit growth across all four categories: Billboards, Street Furniture, Transit and Place-Based. In the fourth quarter, total OOH revenue increased 8.4 percent, while DOOH grew 30.5 percent over the same period in 2021.
OAAA members can examine a detailed review of OOH’s annual performance in our2022 OOH Ad Spend Performance Facts & Figures report and supportingInfographic. It provides valuable insights on OOH opportunities and prospecting strategies, such as identifying competing media channels with greater share than OOH in local markets, and understanding key ad spend months for all product categories.
The report examines:
- OOH performance by category format
- Annual OOH ad spend since 2009
- 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 2021
- 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 medium
- 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
In 2022, nine of the top ten product industries increased and eight grew by double digits. Listed in order of percentage growth, they included: Public Transportation Hotels & Resorts, Media & Advertising, Government Politics and Organizations, Schools Camps & Seminars, Financial, Local Services & Amusements, Restaurants, Retail, and Automotive Dealers and Services. Reflecting consumer desire for a return to real life experiences, the fastest growing category, Public Transportation Hotels & Resorts, jumped 54 percent.
OOH’s largest top ten product categories in 2022 were:
- Hospitals Clinics & Medical Centers
- Quick Serve Restaurants
- Domestic Hotels & Resorts
- Local Government
- Food Stores & Supermarkets
- Legal Services
- Consumer Banking
- Colleges & Universities
- Television & Cable TV
- Real Estate Agents Agencies & Brokers.
Ranked in order of OOH spending, the top 10 advertisers in 2022 were Apple, McDonald’s, Amazon, Panera, Google, American Express, T-Mobile, Disney, Coca-Cola, and Universal Pictures. Apple’s move to the top OOH advertiser was a result of a 27 percent increase over the company’s 2021 investment.
- 88% of the top 100 OOH advertisers increased their OOH spend from 2021
- 24% of the top 100 OOH advertisers more than doubled their spend, including (ranked in order of percentage increase): VRBO, Stellantis, Novo Nordisk, Pinterest, Univision, Airbnb, Pfizer, IHG, Paramount, Panera, Intel, Expensify, Hermes, Peacock, Capital One, United Airlines, Live Nation, Sony, Southwest Airlines, LVMH, Uber, Samsung, Bank Of America, and L’Oreal
- 26% of the top 100 OOH spenders were technology or direct-to-consumer brands including: Airbnb, Amazon, Apple, Audible, BetMGM, Carvana, ClickUp, Comcast, DoorDash, Expensify, Facebook, FanDuel, Google, GrubHub, Hulu, Intel, Live Nation, Netflix, Peacock, Pinterest, Samsung, T-Mobile, Uber, Verizon, VRBO, William Hill
For 2023, MAGNA projects a 6.3 percent growth rate for OOH, once again outperforming all media which is forecast to grow 3.4 percent.
Source: MAGNA, OAAA, Vivvix
Published: April 13, 2023