Out of home advertising revenue increased 20.7 percent in 2022 compared to the previous year, accounting for $8.6 billion, according to a new report from the Out of Home Advertising Association of America. A key driver for the year, the digital out of home segment, which includes cinema advertising, jumped 24.2 percent compared to 2021, according to the OAAA data.
This is the second consecutive year DOOH grew by more 20 percent. DOOH advertising includes cinema advertising, but the report was not broken down into individual segments.
Focusing on the end of 2022, fourth quarter total OOH revenue increased 8.4 percent, while DOOH grew 30.5 percent over the same period in 2021.
"Out of home has hit a new revenue high – one we weren't projected to reach until 2025 due to the impact of the pandemic," said Anna Bager, president, and CEO, OAAA. "I credit this milestone to brands and media buyers recognizing OOH's power as a creative platform on national, regional, and hyperlocal levels. Built on a strong foundation, the medium has advanced exponentially, letting marketers tap into digital, data-led opportunities that get messages out faster than ever at scale."
Ranked in order of OOH spending, the top 10 advertisers in 2022 were Apple, McDonald's, Amazon, Panera, Google, American Express, T-Mobile, Disney, Coca-Cola, and Universal Pictures. Apple's move to the top spot was the result of a 27 percent increase over the company's 2021 investment.