During 2020, the first year of the pandemic, spending on outdoor advertising slumped big-time when folks were home and spending far less time in their cars.
But in 2022, according to Insider Intelligence, spending on out-of-home advertising rebounded to an estimated $7.93 billion in the U.S., up from $6.08 billion in 2020 (though still not back to the $8.65 billion spent in 2019). Car-centric Los Angeles — where significant FYC campaigning takes over billboards across the city — factored into that recovery, says Philip Berardi, president and CEO of Regency Outdoor Advertising.
According to Berardi, “2020 saw revenues decline by approximately half, and this revenue decline persisted until approximately the end of Q2 2021, after which the market for FYC and entertainment ads took off like a rocket.” He adds that “2022 was a great year with strong revenues across all areas.” Among the top outdoor advertisers in the U.S. last year, according to the Outdoor Advertising Association of America,...
But in 2022, according to Insider Intelligence, spending on out-of-home advertising rebounded to an estimated $7.93 billion in the U.S., up from $6.08 billion in 2020 (though still not back to the $8.65 billion spent in 2019). Car-centric Los Angeles — where significant FYC campaigning takes over billboards across the city — factored into that recovery, says Philip Berardi, president and CEO of Regency Outdoor Advertising.
According to Berardi, “2020 saw revenues decline by approximately half, and this revenue decline persisted until approximately the end of Q2 2021, after which the market for FYC and entertainment ads took off like a rocket.” He adds that “2022 was a great year with strong revenues across all areas.” Among the top outdoor advertisers in the U.S. last year, according to the Outdoor Advertising Association of America,...
- 3/10/2023
- by Evan Nicole Brown
- The Hollywood Reporter - Movie News
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