Outdoor advertising revenue in the United States reached a record $9.46 billion in 2025, according to the Outdoor Advertising Association of America (OAAA), while a separate OAAA-Kochava analysis reported measurable lifts across in-person and digital outcomes. The figures below cover U.S. out-of-home (OOH) advertising, including billboards, transit, place-based, and street-furniture formats. Dates and geographies are kept explicit because historical results, quarterly measurements, studies, and forecasts are not interchangeable.
Contents
- U.S. revenue and growth
- Revenue by format
- Quarterly spending by industry
- Advertiser momentum and concentration
- Campaign performance and exposure
- Forecasts and local-market outlook
U.S. revenue and growth
The U.S. OOH market experienced a sharp disruption in 2020, followed by several years of recovery and expansion. OAAA’s historical revenue series reports $6.0739 billion in 2020, a 29.1% year-over-year decline. Revenue then rose to $7.0853 billion in 2021, up 16.7%, and $8.5551 billion in 2022, up 20.7%.
The same OAAA series records $8.7347 billion in 2023, a 2.1% increase from 2022, and $9.1278 billion in 2024, a 4.5% annual increase. OAAA later reported a record $9.46 billion for 2025, up 3.6% year over year. These measurements are U.S. OOH revenue estimates, and OAAA notes that its industry estimates combine reported sources and member-company affidavits. See OOH Revenue by Format 1970–2024 and From Coca-Cola to OpenAI, Brands Are Betting Bigger on OOH.
| Period | U.S. OOH revenue | Year-over-year change |
|---|---|---|
| 2020 | $6.0739 billion | -29.1% |
| 2021 | $7.0853 billion | +16.7% |
| 2022 | $8.5551 billion | +20.7% |
| 2023 | $8.7347 billion | +2.1% |
| 2024 | $9.1278 billion | +4.5% |
| 2025 | $9.46 billion | +3.6% |
More recent quarterly data points to continued momentum. OAAA reported $3.16 billion in U.S. OOH revenue in the second quarter of 2026, 10.7% above the same quarter in 2025. Revenue was up 9.2% year to date through the second quarter of 2026. Those are 2026 measurements, not historical revisions to the earlier annual series.
Revenue by format
Billboards remain the largest measured U.S. OOH format. In 2024, billboard advertising generated $6.5720 billion, compared with $1.5335 billion for transit, $556.8 million for place-based advertising, and $465.5 million for street furniture. The format data comes from OAAA’s OOH Revenue by Format 1970–2024.
The 2023 format figures were $6.3327 billion for billboards and $1.3888 billion for transit. In 2022, billboards generated $6.2195 billion and transit generated $1.2918 billion. In 2021, billboard revenue was $5.5053 billion, while place-based advertising generated $333.0 million.
Earlier observations show how individual formats changed across the disruption and recovery period. Billboard advertising generated $4.7073 billion in 2020 and $5.4579 billion in 2019. Street furniture generated $267.3 million in 2020, while place-based advertising generated $321.9 million in 2020 and $928.1 million in 2018. Transit advertising generated $1.5912 billion in 2019.
These categories describe revenue by format, not a ranking of campaign quality or audience response. A billboard, transit placement, place-based unit, or street-furniture campaign can serve different geographic and audience objectives, so format revenue should be read as a market-size measure.
Quarterly spending by industry
OAAA’s second-quarter 2025 industry report measured $2.8586 billion in total U.S. outdoor advertising expenditures, up 3.0% from Q2 2024. Miscellaneous services and amusements was the largest listed category at $869.0 million, up 10.4% year over year.
Retail received $228.7 million, down 13.4%. Government, politics, and organizations received $185.8 million, down 1.7%, while public transportation, hotels, and resorts received $182.9 million, down 21.7%. Media and advertising received $157.2 million, down 14.1%, and restaurants received $151.5 million, down 3.6%.
Several categories grew faster than the total market in the same quarter. Financial services received $145.8 million, up 32.9%; insurance and real estate received $140.1 million, up 13.8%; and communications received $108.6 million, up 30.5%. Schools, camps, and seminars received $97.2 million, down 5.1%.
The top ten industry categories accounted for 79.3% of U.S. outdoor advertising expenditures in Q2 2025. The concentration figure and quarterly category measurements are from 2ND QUARTER CHARTS 2025 and January–June YTD.xlsx. Because these are quarterly expenditures, they should not be treated as full-year category totals.
Advertiser momentum and concentration
OAAA reported that 73% of the top 100 U.S. outdoor advertisers increased spending in Q2 2026 compared with Q2 2025. Technology and direct-to-consumer companies represented 30% of those top 100 advertisers, indicating notable participation from digitally oriented brands in an offline medium.
The strongest category increase reported for Q2 2026 came from computers, software, and internet advertisers, whose U.S. outdoor spending rose 149.8% year over year. Financial-services advertisers increased spending 22.7%, media and advertising companies increased 12.6%, and local services and amusements advertisers increased 10.5%.
The report also gives examples of individual advertiser activity. FIFA invested more than $3 million in U.S. outdoor advertising to promote the World Cup in Q2 2026. Live Nation increased its U.S. outdoor advertising investment 10% year over year, to more than $2.3 million. These amounts are specific reported investments for the stated quarter, not estimates of total annual marketing budgets.
The advertiser figures are reported in From Coca-Cola to OpenAI, Brands Are Betting Bigger on OOH. They describe momentum among the top 100 advertisers and selected categories; they do not establish that every advertiser or local market moved in the same direction.
Campaign performance and exposure
The 2026 OAAA-Kochava study reported a median 20% lift for in-person outcomes and a median 14% lift for digital outcomes across hundreds of campaigns and seven verticals. In the comparison cited by the study, connected-TV campaigns and broadcast-television campaigns each produced approximately a 10% median lift for the measured outcomes.
The study also reported a relationship between exposure frequency and outdoor-to-digital actions: conversion rate increased 5.3 times from one to ten ad exposures. Retail environments reached a median outdoor advertising lift as high as 25% in the analysis. In large-scale quick-service-restaurant studies cited by OAAA and Kochava, outdoor advertising preceded search activity 96% of the time and preceded social activity 94% of the time.
These results are study findings, not a universal causal effect for every campaign. Median lift summarizes the campaigns and outcomes included in the analysis; it does not guarantee a particular result for a specific billboard, transit placement, city, audience, or creative execution. The source is OOH Delivers 2x the Performance Lift of TV, New OAAA and Kochava Study Finds.
Forecasts and local-market outlook
Forecasts point to continued U.S. OOH growth, but they are estimates rather than completed revenue measurements. BIA forecasts U.S. OOH advertising revenue of $9.2 billion in 2026, up 5.0% year over year. For selected local advertising opportunities, BIA forecasts 2026 outdoor advertising spending to rise 9.6% for amusement parks and arcades, 8.1% for full-service restaurants and bars, 7.2% for real-estate development, and 4.6% for quick-service restaurants. These projections appear in BIA’s 2026 Opportunities Report.
MAGNA forecast U.S. outdoor advertising growth of 4.4% in 2025, following 5.0% growth in 2024. OAAA reported projected U.S. outdoor advertising sales growth of 3.7% annually through 2029. The MAGNA figures are from 2024 OOH Ad Spend Performance Facts & Figures, while the longer-range projection is reported by OAAA in From Coca-Cola to OpenAI, Brands Are Betting Bigger on OOH.
For local advertisers, the forecasts suggest particular attention to entertainment, restaurants, real estate, and quick-service dining. The forecast categories are not a guarantee of local performance, and the BIA and MAGNA numbers should remain labeled as forecasts when compared with historical or quarterly OOH measurements.