Four observations after reviewing the OAAA’s fourth quarter 2022 US out of home revenue figures.
All sectors up.
All US out of home industry sectors grew during the fourth quarter. Place based led all sectors (up 31%), followed by transit (up 9%), billboards (up 7%) and street furniture (up 2%).
Billboards, billboards, billboards.
Roadside billboards accounted for almost 69% of US out of home industry revenues during the fourth quarter of 2023.
Place based surging.
Place based revenues improved 31% during the fourth quarter of 2022 as companies moved from remote work to a return to the office.
Transit and Place based still lag pre-covid.
Transit advertising is 11% below pre-covid because transit ridership is down. Place based advertising is 26% below pre-covid due to the delayed return to the office.
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What about mobile billboards? Who is tracking that segment? In my estimation, there are $80,000,000 in annual LED truck sales, $50,000,000 in annual billboard truck sales and $20,000,000 in annual glass walled display truck sales.