According to the latest figures from the Out of Home Advertising Association of America (OAAA), outdoor advertising (OOH) revenues increased 16.7% in 2021 compared to the previous year. And Magna found OOH to be the second fastest growing advertising channel in 2021, surpassing all media channels except digital.
OAAA 2021 OOH Ad Revenue Report shows that the rise translated into a total gain of $7.1 billion, with digital OOH (DOOH) leading the overall growth with a 22.7% increase. Additionally, total OOH revenue in Q4 2021 saw a 37.4% increase while DOOH grew 49.6% compared to Q4 2020. These numbers tell a story of overall growth and recovery. that the industry should continue to see in 2022 and beyond, according to the report.
Last year, all of the industry’s top 10 product categories surged, with all but two posting double-digit increases, including local services and entertainment, retail and media and advertising, for to name a few. Media and advertising saw the largest increase among categories at 21.3%, while local services and entertainment, OOH’s largest category, accounted for more than 25% of total OOH spend with an increase of 20.9%.
The top ten OOH categories spent a total of $5.8 million in 2021, up from just over $5 million the year before. Miscellaneous services and entertainment spent 25.7% of total revenue in 2021 for a total of more than $1.8 million. Retail spent 10.2% of total revenue for a total of over $722,000. And Media & Advertising spent 7.8% of total revenue for a total of over $552,000.
Ranked in order of OOH spend in 2021, the top three advertisers in 2021 were McDonald’s, Apple, and Geico. Of the top 100 OOH advertisers, 79% increased their OOH spend year over year, with 28% more than doubling their spend in 2021. Based on percentage increases, the top three companies were Credit Karma, Webull and Molson.
Additionally, among the top 100 OOH spenders in 2021 were technology or direct-to-consumer brands, including Amazon, Apple, and AT&T.
This progress and momentum in OOH is a welcome respite from the reduced spending during and in the wake of the pandemic. In 2019, OOH spending hit $8 billion before dropping to $6.7 billion in 2020, down 16%, according to the OAAA.