Outdoor Advertising Industry Profile

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Excerpt from Outdoor Advertising Industry Profile

Companies in this industry create print and digital advertising material and place it on outdoor displays such as billboards, transit vehicles, and street furniture. Major US outdoor advertising agencies include Clear Channel Outdoor, Intersection Media Holdings, Lamar Advertising, and Outfront Media. Leading companies based outside the US include ExterionMedia (the UK), JCDecaux (France), Ströer (Germany), and Val Morgan (Australia).

In 2020, out-of-home advertising spending reached close to $30 billion worldwide. This figure is forecast to decrease in the following years due to the outbreak of coronavirus with global expenditures projected to fall to $37 billion by the end of 2022, according to Statista. Strong growth is expected to come from markets where investment in infrastructure is rising, such as Turkey, China, and Brazil, according to PricewaterhouseCoopers.

The US outdoor advertising industry includes more than 2,600 establishments (single-location companies and units of multi-location companies) with combined annual revenue of about $8 billion. Advertising and marketing services, ad agencies, and sign manufacturing are covered in separate industry profiles.

COMPETITIVE LANDSCAPE

Demand for outdoor advertising is driven by spending on transit infrastructure, as well as business in sectors such as retail, media, health care, and banking and financial services. The profitability of individual companies depends on the ability to attract and retain creative employees and establish and maintain successful relationships with clients. Big companies have advantages in providing outdoor advertising in multiple geographic markets. Small companies ...

 
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