Here’s a chart showing the impact of covid on US out of home revenues by sector.  Billboards were down the least and have come back the fastest.  Place based and transit fell farther and have yet to fully recover.

Change in US Out of Home Revenues by Industry Sector

• Billboards had the smallest decline and were down only 13% as of the first quarter of 2020.  The billboard market is a tale of two cities.  Rural and suburban billboard revenues were at or in excess of pre-covid levels as of the end of the first quarter.  Urban core billboards were down 20-30%.
• Place based advertising declined by more than 80% during covid and still hadn’t come back as of the end of the first quarter of 2021.
• Transit and street furniture have begun to rebound but were half to two-thirds below pre-covid levels at the end of the first quarter.

We’ll update the chart next month when the OAAA releases second quarter revenues.

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