Outdoor vendors have had a healthy streak lately in revenue growth. According to a study from SNL Kagan, that expansion is set to continue well into the next decade.
MediaPost reports that “Economics of Outdoor & Out of Home Advertising” predicts strong growth over the next few years. In fact, it is estimated that ad spending will reach $10.55 billion by 2020. To reach that, outdoor advertising will have to have an annual growth of 5.9% according to SNL Kagan.
Over the last few years, outdoor spending has recovered from the economic upheaval from 2007-2009. In 2007, revenues were at $7.3 billion, fell to $7 billion in 2008, and fell further in 2009 to $5.9 billion. In 2010, spending grew to $6.1 billion and increased further to $6.31 billion in 2011.
With the addition of digital boards, outdoor boards and out of home advertising have been able to adapt to the digital world and continually grow.
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