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Outdoor Advertising Market: How Vietnamese Enterprises are Changing the Landscape

Outdoor advertising, also known as ‘Out-of-Home Advertising’ (OOH Advertising), is a familiar yet effective form of communication. It serves as a bridge between brands and customers right in their daily living spaces, from bustling streets, shopping centers, airports, and stations, to other public areas. Not only does it reach a large number of consumers, but outdoor advertising also creates a strong impression with concise slogans and with a 24/7 operating frequency, it easily stays in people’s memory, helping brands become widely known in the market. 

According to ReportLinker, the global outdoor advertising market is expected to grow strongly, reaching 33,1 billion USD by 2026. 

According to a report, spending on the advertising market in Vietnam is expected to reach nearly 2,3 billion USD in 2023, while spending on outdoor advertising (OOH) is expected to reach 0,87 billion USD. It can be seen that revenue from outdoor advertising in Vietnam in 2023 only accounts for 3.8% of the total advertising industry revenue, an increase of 4.4% compared to 2022. However, this growth rate is much slower than in 2022, indicating the financial difficulties of businesses in Vietnam.

The average advertising cost per person in this segment is expected to be 0,89 USD in 2023, higher than the 0,85 USD per person compared to 2022.

Traditional outdoor advertising is expected to hold the largest market share with revenue of about 58,01 million USD in 2023, an increase of 2.1% compared to 2022. However, the predicts that traditional outdoor advertising will not grow from 2023 to 2027, and the expected revenue in 2027 will only increase slightly, reaching 58,89 USD million, equivalent to an average annual growth rate of 0.38% per year during this period.

Meanwhile, revenue from digital outdoor advertising is expected to reach 29,82 million USD in 2023, an increase of 9.2% compared to 2022.

Outdoor advertising (OOH) is one of the most important and effective communication channels today. In Vietnam, the outdoor advertising market is increasingly developing with the appearance of many reputable advertising companies such as Goldsun Media, Bizman Media, Kim Ngan,… These OOH outdoor advertising companies in Vietnam provide a variety of advertising forms, including:

High-rise billboards

Low-rise billboards

Advertising on transportation vehicles

Digital Outdoor Advertising (DOOH)

OOH outdoor advertising companies in Vietnam play an important role in bringing businesses’ brands closer to customers. These companies have experience, expertise, and the ability to execute effective outdoor advertising projects, helping businesses achieve their communication goals.

Goldsun Media

Goldsun Media Co., Ltd, established in 1994, is the first Advertising and Communication company in Vietnam to pioneer the deployment of the ISO 9001-2000 quality management system. Goldsun Media is committed to providing error-free advertising services to customers. With rapid development, Goldsun Media currently owns the largest indoor and outdoor advertising system in the North, Central, and South regions, with over 89,000 square meters of advertising area nationwide. The company has diverse locations, unique designs, and dynamic forms, thanks to the application of new technologies in Advertising and Marketing.

Regarding the business situation of Goldsun Media, the company’s net revenue showed signs of stagnation in 2021 and then grew nearly 32% in 2022, reaching nearly 340 billion VND. As for after-tax profit, Goldsun Media recorded many fluctuations when net profit in 2021 decreased compared to 2020 but then ended 2022 with a strong recovery of nearly 50% compared to the same period last year, reaching more than 30 billion VND.

Bizman Media

Bizman Investment Joint Stock Company, operating under the brand Bizman Media since 2003, specializes in outdoor advertising. Bizman Media has become one of the leading companies in this industry, providing a range of products to customers. After nearly 20 years of continuous development, Bizman has expanded its scale and business areas, investing and owning a large billboard system on important national highways and gateways to major cities. 

In addition, Bizman is also a reliable partner in consulting, building and developing brands, organizing events, producing advertising films, designing and printing. They have supported many strong brands in the Vietnamese market. Bizman has two offices in Hanoi and Ho Chi Minh City, with a large staff of more than 200 employees and 300 strategic partners and customers nationwide. 

2022 was a year witnessing the growth in net revenue of Bizman Media, however, the company’s after-tax profit showed the opposite when it decreased significantly. Specifically, after a slight decrease in net revenue in 2021, Bizman Media showed an improvement in net revenue in 2022 when it reached over 180 billion VND. On the contrary, Bizman Media’s after-tax profit decreased by nearly 45% in 2022, down to over 2 billion VND.

Net revenue of outdoor advertising enterprises in Vietnam
Net revenue of outdoor advertising enterprises in Vietnam

Kim Ngan 

Kim Ngan Construction Advertising Co., Ltd, established on March 10, 2010, has its headquarters in Ho Chi Minh City and branches in Hanoi and other major cities. Kim Ngan specializes in large billboards, Led screens, taxis, buses, and lightboxes at shopping centers and offices, with many forms such as Led, Neon sign billboards, lightboxes, trivision, Hiflex, pp, decal, and poly. 

Currently, Kim Ngan owns more than 200 advertising billboards, 15 LED screens in Ho Chi Minh City, Hanoi, and other major cities nationwide, more than 15,000 taxis, buses, and over 300 market locations nationwide. The company has been chosen by many large customers such as Canon, Daikin, Honda, Hitachi,… Kim Ngan is currently a reputable manufacturer and installer of large outdoor Pano pillar systems nationwide. 

From 2020 to 2022, the business operation situation of Kim Ngan went through many fluctuations. The company’s net revenue in 2022 showed recovery when it grew to nearly 200 billion VND, up nearly 50% compared to the figure achieved last year. However, Kim Ngan’s net profit has sharply decreased over the years when the company recorded a large loss in 2021 and then improved to return to a positive net profit level of over 400 million VND in 2022. However, this figure is still very modest compared to the net profit that the company achieved in 2020.

Nam An Media

Nam An Media, a communication advertising company, was established in 2015. The company specializes in various forms of outdoor advertising, including large billboards such as Pano and Billboard, low-level advertising such as bus shelters and lightboxes, as well as advertising on moving vehicles. Nam An continuously captures and updates new advertising trends globally. Currently, the company has become a partner of many leading brands and is the exclusive agent of the LCD advertising channel on taxis. 

Nam An Media’s net revenue recorded stable growth over the years. Specifically, Nam An Media ended 2022 with a growth in net revenue reaching nearly 180 billion VND, up more than 40% compared to the same period in 2021. In terms of after-tax profit, the company showed negativity when recording a loss of nearly 350 million VND in 2021 but then Nam An Media closed 2022 with a recovery at a positive net profit level.

An Giang Advertising

An Giang Advertising, officially known as An Giang Advertising Services and Trading Company Limited, is a business specializing in the field of advertising. The predecessor of the company was a signboard painting service. The company was established in 2000, and to date, it has more than 20 years of experience in the industry and mainly operates in the southern provinces. With a talented staff, An Giang Advertising always brings the best services, quality products, and competitive prices to customers.

Along with the growth momentum of net revenue with Nam An Media, the net revenue of An Giang Advertising showed a breakthrough when it surpassed the VND 100 billion mark in 2022, an increase of more than 150% compared to the same period last year. However, with the significant improvement in net revenue, it could not help An Giang Advertising escape the situation of losses over many years when 2022 continued to witness a large loss of more than 10 billion VND.


Shojiki Advertising Joint Stock Company, established in late 2017, specializes in providing leading outdoor advertising (OOH) services in Vietnam. Shojiki’s services include advertising at airports, airplanes, large electronic screens, traditional billboards, buses, taxis, and high-tech advertising. Shojiki has offices in both Vietnam and Japan, serving hundreds of customers, including large companies and corporations such as Daiichi Life, Isuzu, Novaland,… The company focuses on exploiting the strengths of partners in the advertising industry, both online and offline, with the goal of providing customers with the most creative and effective communication solutions for campaigns in the Vietnamese market.

Shojiki’s net revenue in 2022 reached nearly 100 billion VND, up nearly 90% compared to the same period last year. In terms of after-tax profit, after a loss in 2020, Shojiki showed an improvement in its business situation when it recorded a positive net profit, reaching over 2 billion VND in 2021 and in 2022, the company’s after-tax profit had a significant decrease but still maintained a positive net profit level.

Profit after taxes  of outdoor advertising enterprises in Vietnam
Profit after taxes of outdoor advertising enterprises in Vietnam

Asia Media Vietnam

Asia Media Vietnam, officially known as Asia Investment Group Co., Ltd, was established in 2005 and initially was Van Cong Advertising Art Co., Ltd. After nearly 20 years of operation, Asia Media Vietnam has continuously achieved success through creative and proactive advertising strategies. 

With experience in the field of outdoor advertising investment in the Central and Central Highlands, Asia Media Vietnam has become a partner of many large domestic companies such as Vietnam Brewery (Tiger, Heineken, Larue), Saigon Alcohol Beer and Beverage Corporation (Sabeco), Hoa Sen Steel,… with a cooperation period of over 10 years. Asia Media Vietnam, with superior capacity, has been and is implementing many projects to decorate streets and plan outdoor advertising in major provinces and cities nationwide. 

The business situation of Asia Media Vietnam recorded many positive signals when the company’s net revenue and after-tax profit both grew over the years. In 2022, the net revenue of Asia Media Vietnam surpassed the level of 40 billion VND after a period of hovering at the level of over and under 20 billion VND in previous years. The figure of more than 700 million VND is the net profit that Asia Media Vietnam achieved in 2022, up nearly 140% compared to 2021.


Unique Media Group, established in 2014, is the first integrated outdoor advertising company in Vietnam capable of providing all forms of OOH in 63 provinces and cities nationwide. The company is a partner of many organizations at home and abroad, including Japan, South Korea, the United States, Thailand, Indonesia,… Unique has implemented hundreds of outdoor advertising campaigns for many major brands such as Honda, Panasonic, Koreno, Vinaphone, Techcombank,… along with many other brands. 

In addition, Unique has a vast network of partners and suppliers nationwide, from cities to suburban areas. The company is also a leading strategic partner of many large taxi companies such as Taxi Mai Linh, Group, Vinasun, VinaTaxi,… as well as major golf courses and buildings with leading large Led screens in Vietnam. 

Unique’s net revenue tends to stagnate over the years. Specifically, Unique’s net revenue only revolves around more than 30 billion VND and has not yet been able to break through this threshold when in 2022, the company’s net revenue only reached nearly 35 billion VND. In return, Unique’s net profit shows positivity when in 2022 it recorded a positive net profit of more than 100 million VND while in the same period 2 years ago, the company was still continuously recording losses.

According to statistics from the Ho Chi Minh City Department of Transport, by the end of 2022, the total length of roads in the city was 4,734 km, the length of river roads was 952 km, the number of road bridges was 1,160, and the total road surface area was 50,7 million m². The traffic road density reached 2,26 km/km². Every day, the city has about more than 1,000 new registered vehicles with about 221 cars and 804 motorcycles. The city is currently managing 8,7 million vehicles, including more than 850,000 cars and nearly 7,8 million motorcycles. This is a great opportunity for outdoor advertising activities to develop and expand in scale. Along with the development of technology, it will help outdoor advertising businesses to bring many modern, diverse, and creative advertising forms and save costs. From there, not only do many brands invest more in outdoor advertising, but it also attracts many consumers to know more about the brand.

However, alongside this, the outdoor advertising market in Vietnam also faces many challenges, such as legal issues arising from strict state management. The situation of outdoor advertising, writing, placing signboards, advertising, not complying with legal regulations, causing product information distortion, causing difficulties for readers… Or due to the impact of the Covid pandemic, many companies are struggling, leading to a decrease in the number of orders for outdoor advertising businesses. Nevertheless, thanks to the strong urbanization development taking place in Vietnam, the field of outdoor advertising still has enormous development opportunities in the future.

Source: Vietdata's 2022 Outdoor Advertising Market Report.


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