Out-of-home (OOH) advertising continues its upward trajectory, achieving a record $2.04 billion in revenue during the third quarter of 2024. This marks a 4.3% increase compared to the same period last year, according to the Out of Home Advertising Association of America (OAAA). The growth reflects the sector’s adaptability and increasing relevance in the modern marketing landscape, with year-to-date revenue growth at 4.6%.
DOOH Leads Industry Expansion
Digital out-of-home (DOOH) advertising emerged as a standout contributor, representing 33.2% of total OOH revenue for the quarter and recording a 7.3% year-over-year increase. This digital growth highlights a shift towards data-driven and targeted advertising solutions.
Urban formats also showed significant gains, particularly in Transit advertising, which grew by 8.3%. Street Furniture advertising followed closely with a 7.3% increase, mirroring workplace shifts as more employees return to office environments.
Top Industries and Categories Drive Double-Digit Growth
Several industries showed strong engagement with OOH advertising in Q3 2024, with four of the top 10 categories experiencing double-digit growth:
- Automotive Dealers & Services: +18%
- Retail: +17.7%
- Local Services & Amusements: +13.4%
- Government, Politics & Organizations: +11%
The Computer Software category recorded the highest growth, climbing 50% compared to the third quarter of 2023. Other notable categories included Chain Food Stores & Supermarkets (+23.8%), Architects, Contractors & Engineers (+18.1%), and Legal Services (+17.7%).
Political Advertising Bolsters Growth
Political campaigns significantly increased their OOH spending during the quarter, with overall political ad revenue rising by 31.6% compared to the same period in 2020. Spending surged across various campaign types, with ballot issues (+60.7%), U.S. House and Senate races (+184.3%), and presidential campaigns (+4075.8%) contributing to the growth.
Leading Advertisers Embrace OOH
Top advertisers in Q3 included globally recognized brands such as McDonald’s, Apple, Verizon, Amazon, and Coca-Cola. Technology and direct-to-consumer (DTC) brands played a key role, with companies like Netflix, Uber, and T-Mobile increasing their investments.
Among the top 100 OOH advertisers, more than 50% raised their spending compared to Q3 2023. Seventeen brands more than doubled their investments, showcasing the broad appeal of OOH advertising.
Future Outlook for OOH Advertising
The growing adoption of programmatic digital out-of-home (pDOOH) advertising has enabled brands to target audiences more precisely, execute real-time campaigns, and integrate physical and digital experiences seamlessly.
“With advertisers recognizing its potential for measurable results, DOOH continues to see strong demand, cementing its role in modern marketing strategies,” said Greg Joseph, VP of Inventory Development at StackAdapt, a leading contributor to the Computer Software category’s growth.
As the OOH industry concludes 2024, its consistent growth and innovation across digital and static platforms signal a strong future for advertisers seeking impactful and versatile marketing channels.
For more details on OOH advertising trends and revenue breakdowns, visit OAAA.org
About OAAA
The Out of Home Advertising Association of America (OAAA) represents over 850 industry members, including media companies, advertisers, and ad-tech providers. Founded in 1891 and headquartered in Washington, DC, the OAAA advocates for the responsible growth and innovation of the OOH sector, which encompasses billboards, street furniture, transit, place-based media, and digital formats.
