Wait, Did You Say Recession? The OOH Industry Braces for an Economic Downturn
Based on the extreme volatility during the last three years, we wanted to zoom out and look back on the OOH market over a long period. OOH’s revenue in the United States has averaged 7.1% over the last 50 years. The steepest decline in revenue was in 2020 due to the pandemic, with a -29.1% drop. However, we have all watched the swift revenue growth in the two years that followed 2020.
The 1970s showed the strongest consistent revenue growth rates year-over-year coming in between 10% and 20% per year for several years. OOH experienced double-digit revenue growth rates for nearly a decade as a more nascent industry. As OOH has matured and adapted, growth has steadied. The takeaway is that OOH media is a steady and predictable industry that will continue to thrive despite any economic headwinds in the short term.