US Outdoor Ad Revenue Increases 6.1%
The US's Outdoor Advertising Association of America has released figures for the third quarter of 2007 that show outdoor advertising revenue grew with a 6.1% increase over the same period last year, accounting for $1.7 billion in total spending.
“Despite a slowing US economy, the outdoor industry experienced noteworthy growth in the third quarter of this year,” said Stephen Freitas, chief marketing officer for the Outdoor Advertising Association of America. “We are expecting the outdoor industry to have a strong finish to the year.”
Outdoor industry revenue was up in six of the top ten advertising categories for the third quarter of this year. The Communications Category represented the most significant increase, up 34.9% 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.