WASHINGTON: US out-of-home advertising revenue rose 5% in the second quarter of 2013 compared to a year earlier to reach a total of nearly $2.2bn, according to the latest figures from the Outdoor Advertising Association of America (OAAA).
Overall, revenues for the first half were close to $3.7bn, representing steady year-on-year revenue growth since the second quarter of 2010.
This exceeds Warc's own forecasts of growth for the out-of-home sector, which it expected to slow to an increase of just 2.2% in 2013, the year after a US presidential election and the Olympic Games, before picking up again the following year to reach 3.9%.
"The out of home advertising industry is continuing its record as a leading growth medium in the US," said Nancy Fletcher, OAAA President and CEO, in comments reported by MediaPost.
"The advertising community understands the value of OOH as an effective component of ad campaigns," she added.
The restaurant and retail categories showed the greatest volume growth, along with miscellaneous services, but all segments benefited, said Stephen Freitas, OAAA Chief Marketing Officer, "from value markets to high-end markets".
The association highlighted several advertisers which had shown the greatest increase in spending on out of home, including Diageo, StubHub, Jack in the Box, Chipotle, 7 Eleven, Apple Stores, Netflix, Tiffany, and Chanel.
"The improving economy, along with the increasing strength of OOH in connecting with today's mobile consumer, continues to build the confidence advertisers have in OOH as a wise marketing investment," declared Freitas.
Separately, Magna Global expects global out-of-home advertising expenditure to rise three times faster than the market overall during 2013, at 9% against 3%.
Data sourced from MediaPost; additional content by Warc staff