From the end of the great recession to the onset of covid out of home was a GDP business.  It rose in line with the US economy.  US out of home revenues grew 3.89% from 2010 to 2019 versus growth of 4.0% for the Nominal US Gross Domestic Product.

A look at quarterly revenue trends shows that out of home revenues were picking up momentum. In 2019 out of home was a GDP plus business.  US out of home revenues grew almost twice as fast as the US gross domestic product.

Covid changed that.  Out of home had four negative quarters while the US economy bounced back after only two negative quarters.  But over the past year, out of home has begun to make up lost ground, growing 4 or 5 times as fast as Nominal US GDP.

What about the future?  Billboard Insider expects out of home to grow at least 1.5 times faster than the US economy.  Online spending is being hurt by Apples cookie policy. Those dollars have to go somewhere. Capital spending for digital out of home conversions is increasing again after a covid stall.  And programmatic out of home is gaining momentum.

Is out of home a GDP plus business? Let us know either by emailing davewestburg@billboardinsider.com or by using the form below.

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