Industry Statistics and Trends
Market size and recent performance (2014-2029)
Industry revenue has declined at a CAGR of 5.7 % over the past five years, to reach an estimated $7.9bn in 2024.
Trends and Insights
COVID-19 constrained consumer spending
- The pandemic caused state and local governments to shut down businesses and enforce quarantines. Since people couldn't leave their homes, consumer spending plunged, reducing revenue for retailers, restaurants, manufacturers and other sectors.
- Additional trends and insights available with purchase
Source: IBISWorld
Industry outlook (2024-2029)
Market size is projected to decline over the next five years.
Trends and Insights
The trending popularity of the internet will foster a long-term decline
- The internet will continue to play a significant role in consumers' lives, as internet traffic volume and the percentage of business conducted online will soar during the outlook period.
Biggest companies in the Billboard & Outdoor Advertising in the US
| Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
|---|---|---|---|---|
Lamar Advertising Co | 1,892.1 | 651.6 | 34.4 | |
Outfront Media Inc. | 1,568.0 | -239.6 | -15.3 | |
Clear Channel Outdoor Holdings, Inc. | 1,292.4 | 154.9 | 12.0 |
To view the market share and analysis for all 19 top companies in this industry, view purchase options.
Products & Services Segmentation
Source: IBISWorld
Industry revenue is measured across several distinct product and services lines, including Static billboards, Digital billboards and Transit displays. Static billboards is the largest segment of the Billboard & Outdoor Advertising in the US.
Trends and Insights
Regulation limits the growth of static billboards
- Static billboards show physical bulletins and posters to consumers and comprise nearly half of the revenue for the industry. Bulletins are oversized and illuminated advertising structures that target vehicles driving on highways. Posters are smaller and located on city streets. Their intended audience is slowly moving cars and pedestrians.
- More insights available in the full report
Table of Contents
About this industry
Industry definition
This industry is composed of companies that create and design advertising materials for public display, including printed, painted or electronic displays. Operators may place the displays on billboards, panels, within transit vehicles, shopping malls, retail stores and other display structures or sites.
What's included in this industry?
Static billboard advertisingDigital billboard advertisingMall display advertisingLogo signs advertisingStreet furniture display advertisingTransit advertisingCompanies
Lamar Advertising CoOutfront Media Inc.Clear Channel Outdoor Holdings, Inc.Purchase this report to view all 19 major companies in this industry.
Related Terms
BULLETINADVERTISING COPYCOST PER THOUSAND IMPRESSIONSDAILY IMPRESSIONSDISPLAY FACEPOSTERTENDERINGIndustry Code
NAICS 54185 - Billboard & Outdoor Advertising in the US
Performance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
Revenue for billboard and outdoor advertisers has been volatile during the current period. COVID-19 caused sales to tank, while the pandemic recovery caused many companies to...
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2014-2023) and forecast (2024-2029)
- Employees, including historical (2014-2023) and forecast (2024-2029)
- Businesses, including historical (2014-2023) and forecast (2024-2029)
- Profit, including historical (2014-2024)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Key success factors for businesses to overcome volatility
- How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
Demand for static and digital billboards has trended in different directions. Regulations on building billboards have decreased investment in static billboards, while the ben...
In this chapter
- Products & Services
- Major Markets
Key metrics
- Largest market segment and value in 2024
- Product innovation level
Charts
- Products & services segmentation in 2024
- Major market segmentation in 2024
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
The Mid-Atlantic region is known for its cities with extensive public transportation systems and high-rise structures. These factors increase demand for transit displays and ...
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each state
- Share of population compared to establishments in each region in 2024
Tables
- Number and share of establishments in each state in 2024
- Number and share of revenue each state accounts for in 2024
- Number and share of wages each state accounts for in 2024
- Number and share of employees in each state in 2024
Detailed analysis
- Geographic spread of the industry across North America, and trends associated with changes in the business landscape
- Key success factors for businesses to use location to their advantage
Competitive Forces
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Analyst insights
Barriers to entry for billboard and outdoor advertisers are high, requiring heavy capital investment into large structures. These barriers inhibit entrants, which reduces com...
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2019-2024
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
Detailed analysis
- Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
- Key success factors for businesses to manage the competitive environment of the industry.
- Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
- Key success factors for potential entrants to overcome barriers to entry.
- Competitive threats from potential substitutes for the industry’s own products and services.
- Key success factors for how successful businesses can compete with substitutes.
- Advantages that buyers have to keep favorable purchasing conditions.
- Advantages that suppliers have to maintain favorable selling conditions.
- Key success factors for how businesses can navigate buyer and supplier power.
Companies
Learn about the performance of the top companies in the industry.
Analyst insights
Since regulations restrict how many billboards can be put up, players increase revenue by acquiring billboards. Major company Lamar Advertising did this in 2018 when it purch...
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2020 through 2024
- Major companies in the industry, including market share, revenue, profit and profit margin in 2024
- Overview of Lamar Advertising Co's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of Outfront Media Inc.'s performance by revenue, market share and profit margin from 2018 through 2024
- Overview of Clear Channel Outdoor Holdings, Inc.'s performance by revenue, market share and profit margin from 2018 through 2024
- Overview of revenue, market share and profit margin trend for 16 additional companies
Detailed analysis
- Description and key data for Lamar Advertising Co, and factors influencing its performance in the industry
- Description and key data for Outfront Media Inc., and factors influencing its performance in the industry
- Description and key data for Clear Channel Outdoor Holdings, Inc., and factors influencing its performance in the industry
- Description, key data and performance trends for 16 additional companies
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
Most of the regulations that billboard and outdoor advertisers are subject to involve setting up billboards near highways. Standards were set for billboards near highways in ...
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Charts
- Regulation & Policy historical data and forecast (2014-2029)
- Assistance historical data and forecast (2014-2029)
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
- Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
- Key governmental and non-governmental groups or policies that may provide some relief for industry operators.
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
Profit for billboard and outdoor advertisers rises and falls with revenue growth. The attractiveness of online advertising has diminished the market for billboards, causing p...
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Investment vs. share of economy
Data tables
- Industry Multiples (2017-2022)
- Industry Tax Structure (2017-2022)
- Income Statement (2017-2022)
- Balance Sheet (2017-2022)
- Liquidity Ratios (2017-2022)
- Coverage Ratios (2017-2022)
- Leverage Ratios (2017-2022)
- Operating Ratios (2017-2022)
- Cash Flow & Debt Service Ratios (2014-2029)
- Revenue per Employee (2014-2029)
- Revenue per Enterprise (2014-2029)
- Employees per Establishment (2014-2029)
- Employees per Enterprise (2014-2029)
- Average Wage (2014-2029)
- Wages/Revenue (2014-2029)
- Establishments per Enterprise (2014-2029)
- IVA/Revenue (2014-2029)
- Imports/Demand (2014-2029)
- Exports/Revenue (2014-2029)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2014-2029)
- IVA (2014-2029)
- Establishments (2014-2029)
- Enterprises (2014-2029)
- Employment (2014-2029)
- Exports (2014-2029)
- Imports (2014-2029)
- Wages (2014-2029)
Top Questions Answered
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Billboard & Outdoor Advertising in the US industry in United States in 2024?
The market size of the Billboard & Outdoor Advertising in the US industry in United States is $7.9bn in 2024.
How many businesses are there in the Billboard & Outdoor Advertising in the US industry in 2024?
There are 13,023 businesses in the Billboard & Outdoor Advertising in the US industry in United States, which has declined at a CAGR of 0.4 % between 2019 and 2024.
Has the Billboard & Outdoor Advertising in the US industry in United States grown or declined over the past 5 years?
The market size of the Billboard & Outdoor Advertising in the US industry in United States has been declining at a CAGR of 5.7 % between 2019 and 2024.
What is the forecast growth of the Billboard & Outdoor Advertising in the US industry in United States over the next 5 years?
Over the next five years, the Billboard & Outdoor Advertising in the US industry in United States is expected to decline.
What are the biggest companies in the Billboard & Outdoor Advertising in the US market in United States?
The biggest companies operating in the Billboard & Outdoor Advertising market in United States are Lamar Advertising Co, Outfront Media Inc. and Clear Channel Outdoor Holdings, Inc.
What does the Billboard & Outdoor Advertising in the US in United States include?
Static billboard advertising and Digital billboard advertising are part of the Billboard & Outdoor Advertising in the US industry.
Which companies have the highest market share in the Billboard & Outdoor Advertising in the US in United States?
The company holding the most market share in United States is Lamar Advertising Co.
How competitive is the Billboard & Outdoor Advertising in the US industry in United States?
The level of competition is high and increasing in the Billboard & Outdoor Advertising in the US industry in United States.
Related Industries
Widen your competitive advantage with related industries
Competitors
- Database & Directory Publishing in the US
- Direct Mail Advertising in the US
- Print Advertising Distribution in the US
- Promotional Products in the US
Complementors
- Graphic Designers in the US
- Advertising Agencies in the US
International industries
- Billboard & Outdoor Advertising in Canada
- Specialised Design Services in Australia
- Architectural and Design Services in New Zealand
- Advertising Agencies in the UK
- Advertising Agencies in Ireland
View all industries in United States
Methodology
How are IBISWorld reports created?
IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
What data sources do IBISWorld analysts use?
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in the US include:
- US Census Bureau
- US Bureau of Labor Statistics
- US International Trade Commission
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
How does IBISWorld forecast its data?
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
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