Magna projects US out of home growth of of 6.3% in 2023 due to digital and programmatic innovations and the resilience of local advertising.  The growth forecast has been reduced slightly due to recession concerns.  Cinema advertising will make a strong recovery off a small base as post-covid audiences return to theaters.  Digital revenues will continue growing. Audio revenues will be flat.  Publishing revenues will continue to decline.

Billboard Insider’s take:  Most analysts expect the US to have 3-4% inflation during 2023 so Magna expects the US out of home industry to grow at twice the rate of inflation and well in excess of the 4-5% growth in US nominal GDP.

To receive a free morning newsletter with each day’s Billboard insider articles email info@billboardinsider.com with the word “Subscribe” in the title.  Our newsletter is free and we don’t sell our subscriber list.

Paid Advertisement