Nice to see the US out of home industry growth picking up after a weak 2023.  Here’s a table comparing US out of home revenue growth with the US economy and inflation for the past two years.

• US out of home revenues grew 6.8% in the first quarter of 2024 after growing in the low single digits for much of 2023.    Transit and place based had been holding back the industry during 2023 but they are starting to recover.  Transit grew 19% in the first quarter of 2024 while place based was up 13%.
• US out of home revenues grew faster that the US economy in the first quarter of 2024 after trailing the US economy for four straight quarters.  Billboard Insider uses Nominal US Gross Domestic Product as a proxy for the US economy. US out of home revenues increased 6.8% in the first quarter of 2024 versus 4.8% growth in US GDP.

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