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, Focus Media, Lamar Advertising, and Outfront Media. Leading companies based outside the US include ExterionMedia (the UK), JCDecaux (France), and Ströer (Germany).
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 80% of revenue.
Products, Operations & Technology
Spending on outdoor advertising, also known as out-of-home (OOH) or digital-out-of-home (DOOH) advertising, typically goes toward billboards (65% of industry revenue); transit space such as airport terminals, buses, subway trains, and taxis (18%); alternative locations like arenas, stadiums, and cinemas (12%); and street furniture such as bus shelters and benches (5%), according to the Outdoor Advertising Association of America.