Outdoor Revenue Rises 15% During Fourth Quarter
The outdoor advertising industry experienced a positive end to 2002 with fourth quarter revenues rising by 15% year on year, according to the latest figures from the Outdoor Advertising Association.
Total outdoor revenue for 2002 was £690.1 million, which represents a 1.9% increase on the previous year. This figure is also just £7 million less than the total outdoor advertising revenue figure for 2000.
According to the OAA, the fourth quarter growth was driven by the entertainment and media categories, with drink, travel and transport and retail also showing significant year on year increases.
Bill Wilson, operations director at the OAA, predicts that the first quarter of 2003 will also see significant year on year growth. He said: “We are expecting quarter one revenues to be up year on year. The outdoor industry has held on well in an unusually difficult market and has not been hit quit as much by the big ups and downs experienced by other types of media.”
Wilson admitted that it would be difficult to make any long term predictions for the sector, but said: “We performed strongly in 2002 so there’s no reason not to be positive for the coming year. The market shows no signs of picking up dramatically but I can’t foresee any significant drops occurring.”
He added: “Fewer media owners and more consolidation has given the whole medium greater stability. So the outlook is positive.”
Figures from Thomson Intermedia show that entertainment, media and leisure brands were the heaviest outdoor advertisers during 2002, spending £114 million in the sector over the course of the year. This was followed by FMCG brands, which ploughed £112 million into outdoor advertising during 2002.