Published on August 24th, 2021 | by Steve Nicklin0
OAAA Sales Tip: OOH Produces Impressive 38% Growth in Q2 2021
The past year’s OAAA/Harris Poll research has consistently shown consumers are noticing OOH more than ever. The Spring 2021 study showed 41 percent of consumers reported noticing OOH ads more than pre-pandemic, and the increased notice rate jumped to 59 percent in urban cities of one million or more in population.
Increased OOH advertiser spend is now generating a parallel trend as OOH advertising revenue increased 38 percent in the second quarter of 2021 compared to the previous year, totaling $2.0 billion. Digital OOH is leading the overall OOH recovery, and the segment jumped almost 80 percent compared to Q2 2020.
In the second quarter, all top ten industry product categories increased double digits, and included Local Miscellaneous Services & Amusements, Retail, Insurance & Real Estate, Media & Advertising, Restaurants, Government Politics and Organizations, Public Transportation Hotels and Resorts, Financial, Automotive Dealers and Services, and Schools Camps and Seminars.
As an indicator of the ongoing recovery of the US economy, the strongest categories all increased more than one-third and, in order of percentage increase, were Insurance & Real Estate, Government Politics and Organizations, Local Miscellaneous Services & Amusements, Media & Advertising, Retail, Automotive Dealers and Services, Restaurants, and Public Transportation Hotels and Resorts.
Ranked in order of OOH spending, the top 10 advertisers in the second quarter were Geico, McDonald’s, Apple, Allstate, Anheuser-Busch, Coca-Cola, HBO, Universal Pictures, Google, and the New York City Department of Health & Mental Hygiene.
The tech and DTC brands included: 1520, Affirm, Amazon, Apple, AT&T, BetMGM, Carvana, ClickUp, Comcast, Credit Karma, Curative, DoorDash, DuckDuckGo, Eaze, Fred Loya Insurance, Google, GrubHub, Hulu, Netflix, Pacaso, PayPal, Postmates, T-Mobile, Uber, Verizon, and Womply.
Those brands increasing their OOH spend at least ten-fold included (ranked in order of percentage increase): Womply, Postmates, Curative, Pacaso, Credit Karma, Affirm, 1520, Mark Anthony Brands International, PayPal, Molson, DoorDash, ClickUp, Carvana, Brown-Forman, Gallo, BetMGM, New Jersey Department of Health, T-Mobile, Boston Beer Company, and AT&T.
MAGNA, a division of IPG, forecasts OOH will be the second fastest growing ad channel in 2021 with a projected annual increase of 10.4 percent.
Source: OAAA, Kantar, Miller Kaplan