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 JCDecaux (France), Ströer (Germany), and Val Morgan (Australia).

Out-of-home advertising spending is expected to reach $40 billion worldwide by the end of 2024, according to Statista. The leading global markets in terms of advertising spending include the US and Canada, with the Asia-Pacific region and Western Europe as one of the leading markets.

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 can compete effectively by specializing in local markets or offering lower pricing. The US industry is concentrated: the top 50 companies account for nearly ...