If you follow the U.S. economy, you know that the torrid pace of growth of recent years has begun to slow, to the point where our tax cut-loving president is considering a payroll tax cut to get things moving again.
But you won’t see that type of slowdown in out of home. In fact, things have never been better for the different sectors of advertising that fall under the outdoor umbrella. New numbers from the Outdoor Advertising Association of America show that OOH hit its highest growth rate in a decade during second quarter of this year.
Spending rose 7.7 percent, its best quarterly rate since 2007. Year to date, ad revenue for out of home has risen 7 percent, which puts it well above all other traditional media.
But just throwing out those numbers doesn’t really put this in perspective, does it? Here’s how you can tell how successful OOH is right now: By comparing it to other industries and American cultural touchpoints. So here are 10 things outdoor advertising is growing faster than right now — and why that’s happening.
- Television Advertising
TV advertising has been struggling for some time. While digital ads may have zapped the momentum of the print industry first, over time television has taken on some of that suffering. Digital ads are cheaper and easier to target than TV.
During second quarter, television advertising was flat, with broadcast down 1 percent and cable up 1 percent. A lot of people have stopped watching traditional TV. But they haven’t stopped going outside, which is why out of home advertising will continue to thrive while this traditional medium slows down.
