A study by PwC projects US outdoor growth at 4.3%/year for 2016-2020.  Digital will become a larger percentage of the total US outdoor spend but static boards will remain stable as you can see from the following chart.

Insider’s take:  Static outdoor isn’t going away for three reasons.

• Many communities like Seattle and Indianapolis prohibit digital signs and seem to have no plans to do digital.

• Low-revenue billboards can’t support the $250,000 costs of a digital retrofit.

• It makes no sense to retrofit freeway signs in non-congested areas with digital when drivers drive by at 80 miles an hour and only see one flip.

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