US Out of Home Revenues Projected to Grow 8% in 2023

Solomon Partners says “the much discussed potential recession is not currently impacting the advertising market.”  In the January 2023 Media Monthly the Solomon team reviewed the ad spending estimates from GroupM, Magna and Zenith.  The three forecasts predict out of home ad spending to grow 22% in 2022 and 8% in 2023.  Out of home revenues grow faster than all other forms of media and only trail search spending in 2023.

US Out of Home 2022 and 2023 Revenues as reports in January 2023 Solomon Partners Media Monthly

Billboard Insider’s Take:  Out of home is growing faster than the US economy.  The 8% projected growth rate for out of home in 2023 looks good versus a Conference Board 2023 economic forecast of 0.2% for US GDP growth and 3-4% for US inflation.

 

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