OOH media sales up 6.2 percent, report says
Global OOH advertising revenue grew 6.2 percent in 2016 to $49.23 billion with DOOH claiming the lion's share of the growth, according to research from PQ Media. Consumer exposure to OOH also grew 1.5 percent globally to 66 minutes every week, according to a press release.
The company argues that the Summer Olympics, U.S. presidential campaign and other content partnerships were key drivers of growth in the OOH industry. The company also found that DOOH is estimated to have held a 24.1 percent market share of OOH in 2016, which is up from 16.8 percent in 2010. DOOH income also grew 12.6 percent to almost $12 billion in the year.
The company identified JCDecaux, Clear Channel Outdoor, Outfront Media, Lamar and Focus Media as the five OOH companies to exceed $1 billion in revenue. It also found that the U.S. is the largest market in all areas of OOH.
"Macro trends, such as consumers spending more time outside their homes and gradual improvement in the US and global economies, should help brands open more media-mix models for inclusion of OOH ad media going forward," Patrick Quinn, president and CEO of PQ Media, said in the press release. "Healthcare, transit and entertainment ad networks stand to gain the most from these trends."
The report is available here for download.